AIHS vs ICON: Correlation
How closely do Senmiao Technology Limited (AIHS) and Icon Energy Corp. (ICON) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIHS and ICON?
Across a 3-year window, the weekly returns of AIHS and ICON correlate at -0.23, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.04) runs above the 3-year figure (-0.23). Stretching to 5 years gives n/a, with an annualized covariance of -2061.5 %².
By 3-year correlation, ICON places #14 of the 19 assets tracked against AIHS. Their recent paths diverged sharply: over the last 12 months AIHS outperformed by 32.8 percentage points (-58.3% for AIHS against -91.1% for ICON).
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AIHS vs ICON: side by side
| AIHS (Senmiao Technology Limited) | ICON (Icon Energy Corp.) | |
|---|---|---|
| 1-year return | -58.3% | -91.1% |
| 5-year return | -97.9% | n/a |
| Volatility (ann.) | 85.8% | 114.3% |
| Beta vs S&P 500 | -0.01 | 2.01 |
| Max drawdown (3Y) | -93.0% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIHS | ICON |
|---|---|---|
| 2022 | -75.6% | – |
| 2023 | -54.6% | – |
| 2024 | +161.0% | – |
| 2025 | -90.0% | -99.2% |
| 2026 | +22.4% | -71.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIHS and ICON good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AIHS and ICON?
The AIHS/ICON correlation stands at -0.23 on a 3-year window (1 year: 0.04, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ICON a good diversifier for AIHS?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aihs-vs-icon.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aihs-vs-icon/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIHS correlations · ICON correlations
