AXG vs NIKI: Correlation
Measured on weekly returns over the past three years, Solowin Holdings - Class A (AXG) and Niki BioSolutions, Inc. (NIKI) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXG and NIKI?
Across a 3-year window, the weekly returns of AXG and NIKI correlate at 0.36, moderate. The past 12 months show a weaker link (-0.15) than the 3-year average (0.36). Stretching to 5 years gives n/a, with an annualized covariance of 13487.8 %².
Few assets follow AXG as closely as NIKI, which ranks #3 of 11 tracked partners. Correlation aside, the last 12 months split them widely, with AXG ahead by 23.9 points (-42.6% versus -66.5%).
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.
AXG vs NIKI: side by side
| AXG (Solowin Holdings - Class A) | NIKI (Niki BioSolutions, Inc.) | |
|---|---|---|
| 1-year return | -42.6% | -66.5% |
| 5-year return | n/a | -97.1% |
| Volatility (ann.) | 162.4% | 227.3% |
| Beta vs S&P 500 | 0.61 | 0.93 |
| Max drawdown (3Y) | -97.5% | -94.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXG | NIKI |
|---|---|---|
| 2022 | – | -63.3% |
| 2023 | – | -55.5% |
| 2024 | -44.8% | +14.3% |
| 2025 | +149.1% | -62.1% |
| 2026 | -45.3% | -28.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXG and NIKI good diversifiers for each other?
Reasonably. At 0.36, AXG and NIKI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AXG and NIKI?
The AXG/NIKI correlation stands at 0.36 on a 3-year window (1 year: -0.15, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NIKI a good diversifier for AXG?
Reasonably. At 0.36, AXG and NIKI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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
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Related comparisons
Hubs: AXG correlations · NIKI correlations
