AVX vs AXG: Correlation
Measured on weekly returns over the past three years, Avax One Technology Ltd. (AVX) and Solowin Holdings - Class A (AXG) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVX and AXG?
Over the past 3 years, AVX and AXG moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.01) runs above the 3-year figure (-0.20). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -3858.5 %².
Among the 12 assets we track against AVX, AXG sits near the bottom by co-movement, at rank #11. The last year tells two different stories: AXG led by 45.5 percentage points, -88.1% for AVX against -42.6% for AXG.
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.
AVX vs AXG: side by side
| AVX (Avax One Technology Ltd.) | AXG (Solowin Holdings - Class A) | |
|---|---|---|
| 1-year return | -88.1% | -42.6% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 119.5% | 162.4% |
| Beta vs S&P 500 | 1.28 | 0.61 |
| Max drawdown (3Y) | -100.0% | -97.5% |
| Market cap | – | $0.4B |
| P/E (trailing) | 0.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVX | AXG |
|---|---|---|
| 2022 | -45.7% | – |
| 2023 | -99.2% | – |
| 2024 | -95.0% | -44.8% |
| 2025 | -92.9% | +149.1% |
| 2026 | -80.7% | -45.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVX and AXG good diversifiers for each other?
Yes. With a correlation of -0.20, AVX and AXG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AVX and AXG?
As of 2026-08-27, the correlation of weekly returns between AVX and AXG is -0.20 over 3 years, 0.01 over 1 year and n/a over 5 years.
Is AXG a good diversifier for AVX?
Yes. With a correlation of -0.20, AVX and AXG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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
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Hubs: AVX correlations · AXG correlations
