CING vs LWAY: Correlation
How closely do Cingulate Inc. (CING) and Lifeway Foods, Inc. (LWAY) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CING and LWAY?
Across a 3-year window, the weekly returns of CING and LWAY correlate at 0.47, moderate. The past 12 months show a weaker link (0.04) than the 3-year average (0.47). Stretching to 5 years gives 0.41, with an annualized covariance of 14129.5 %².
Few assets follow CING as closely as LWAY, which ranks #3 of 14 tracked partners. Correlation aside, the last 12 months split them widely, with CING ahead by 44.2 points (+30.1% versus -14.1%). One caveat on sizing: CING is 5.5 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.
CING vs LWAY: side by side
| CING (Cingulate Inc.) | LWAY (Lifeway Foods, Inc.) | |
|---|---|---|
| 1-year return | +30.1% | -14.1% |
| 5-year return | -99.5% | +385.7% |
| Volatility (ann.) | 405.7% | 73.8% |
| Beta vs S&P 500 | 3.94 | 0.75 |
| Max drawdown (3Y) | -99.0% | -60.5% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | – | 38.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CING | LWAY |
|---|---|---|
| 2022 | -63.8% | +20.7% |
| 2023 | -61.7% | +141.6% |
| 2024 | -94.6% | +84.9% |
| 2025 | -12.0% | -2.3% |
| 2026 | +25.3% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CING and LWAY good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CING and LWAY?
The CING/LWAY correlation stands at 0.47 on a 3-year window (1 year: 0.04, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is LWAY a good diversifier for CING?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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/cing-vs-lway.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cing-vs-lway/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CING correlations · LWAY correlations
