CLGN vs SBET: Correlation
Measured on weekly returns over the past three years, CollPlant Biotechnologies Ltd. (CLGN) and Sharplink, Inc. (SBET) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLGN and SBET?
Over the past 3 years, CLGN and SBET moved with a correlation of 0.47, which is moderate. The link has loosened recently: the 1-year correlation (-0.04) runs below the 3-year figure (0.47). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 25698.0 %².
SBET is one of the assets that tracks CLGN most closely: it ranks #1 out of the 10 assets we track against CLGN. Their recent paths diverged sharply: over the last 12 months SBET outperformed by 36.1 percentage points (-90.0% for CLGN against -53.9% for SBET). Risk is not evenly split, since SBET carries 7.0 times the volatility of the other side.
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.
CLGN vs SBET: side by side
| CLGN (CollPlant Biotechnologies Ltd.) | SBET (Sharplink, Inc.) | |
|---|---|---|
| 1-year return | -90.0% | -53.9% |
| 5-year return | -98.3% | -98.8% |
| Volatility (ann.) | 87.8% | 616.8% |
| Beta vs S&P 500 | 0.37 | 3.10 |
| Max drawdown (3Y) | -96.4% | -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 | CLGN | SBET |
|---|---|---|
| 2022 | -49.0% | -88.3% |
| 2023 | -23.5% | -51.6% |
| 2024 | -43.7% | -57.3% |
| 2025 | -61.1% | +16.4% |
| 2026 | -79.3% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLGN and SBET good diversifiers for each other?
Reasonably. At 0.47, CLGN and SBET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CLGN and SBET?
The CLGN/SBET correlation stands at 0.47 on a 3-year window (1 year: -0.04, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is SBET a good diversifier for CLGN?
Reasonably. At 0.47, CLGN and SBET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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: CLGN correlations · SBET correlations
