AVX vs SHFS: Correlation
Measured on weekly returns over the past three years, Avax One Technology Ltd. (AVX) and SHF Holdings, Inc. (SHFS) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVX and SHFS?
Over the past 3 years, AVX and SHFS moved with a correlation of 0.42, which is moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.42 over 3. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 7657.2 %².
SHFS is one of the assets that tracks AVX most closely: it ranks #1 out of the 12 assets we track against AVX. Their 12-month results are close: -88.1% for AVX against -92.9% for SHFS.
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 SHFS: side by side
| AVX (Avax One Technology Ltd.) | SHFS (SHF Holdings, Inc.) | |
|---|---|---|
| 1-year return | -88.1% | -92.9% |
| 5-year return | -100.0% | -99.9% |
| Volatility (ann.) | 119.5% | 150.8% |
| Beta vs S&P 500 | 1.28 | 1.27 |
| Max drawdown (3Y) | -100.0% | -99.4% |
| Market cap | – | – |
| P/E (trailing) | 0.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVX | SHFS |
|---|---|---|
| 2022 | -45.7% | -82.4% |
| 2023 | -99.2% | -20.0% |
| 2024 | -95.0% | -68.3% |
| 2025 | -92.9% | -88.2% |
| 2026 | -80.7% | -84.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVX and SHFS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AVX and SHFS?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.35 over the last year and 0.28 over 5 years.
Is SHFS a good diversifier for AVX?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AVX correlations · SHFS correlations
