ATXG vs SBET: Correlation
Measured on weekly returns over the past three years, Addentax Group Corp. (ATXG) and Sharplink, Inc. (SBET) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATXG and SBET?
Across a 3-year window, the weekly returns of ATXG and SBET correlate at 0.37, moderate. The past 12 months show a weaker link (0.03) than the 3-year average (0.37). Stretching to 5 years gives 0.29, with an annualized covariance of 21489.0 %².
Few assets follow ATXG as closely as SBET, which ranks #1 of 10 tracked partners. Their 12-month results are close: -57.5% for ATXG against -53.9% for SBET. One caveat on sizing: SBET is 6.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ATXG vs SBET: side by side
| ATXG (Addentax Group Corp.) | SBET (Sharplink, Inc.) | |
|---|---|---|
| 1-year return | -57.5% | -53.9% |
| 5-year return | -99.7% | -98.8% |
| Volatility (ann.) | 94.8% | 616.8% |
| Beta vs S&P 500 | 0.60 | 3.10 |
| Max drawdown (3Y) | -90.5% | -94.2% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ATXG | SBET |
|---|---|---|
| 2022 | -85.7% | -88.3% |
| 2023 | -86.6% | -51.6% |
| 2024 | -57.4% | -57.3% |
| 2025 | -36.1% | +16.4% |
| 2026 | -37.1% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATXG and SBET good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ATXG and SBET?
As of 2026-08-27, the correlation of weekly returns between ATXG and SBET is 0.37 over 3 years, 0.03 over 1 year and 0.29 over 5 years.
Is SBET a good diversifier for ATXG?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/atxg-vs-sbet.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/atxg-vs-sbet/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ATXG correlations · SBET correlations
