CODX vs IHT: Correlation
Co-Diagnostics, Inc. (CODX) and InnSuites Hospitality Trust Shares of Beneficial Interest (IHT) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CODX and IHT?
Across a 3-year window, the weekly returns of CODX and IHT correlate at 0.31, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.31 over 3 years. Stretching to 5 years gives 0.19, with an annualized covariance of 3462.4 %².
Among the 24 assets we track against CODX, IHT ranks #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IHT outperformed by 53.3 percentage points (-87.1% for CODX against -33.8% for IHT). Note the risk asymmetry: CODX runs 3.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CODX vs IHT: side by side
| CODX (Co-Diagnostics, Inc.) | IHT (InnSuites Hospitality Trust Shares of Beneficial Interest) | |
|---|---|---|
| 1-year return | -87.1% | -33.8% |
| 5-year return | -99.6% | -63.6% |
| Volatility (ann.) | 203.9% | 55.0% |
| Beta vs S&P 500 | 2.30 | 0.07 |
| Max drawdown (3Y) | -97.9% | -69.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.44% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CODX | IHT |
|---|---|---|
| 2022 | -71.8% | -22.9% |
| 2023 | -47.2% | +2.3% |
| 2024 | -43.6% | +29.5% |
| 2025 | -77.5% | -37.4% |
| 2026 | -75.1% | -3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CODX and IHT good diversifiers for each other?
Reasonably. At 0.31, CODX and IHT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CODX and IHT?
As of 2026-08-27, the correlation of weekly returns between CODX and IHT is 0.31 over 3 years, 0.58 over 1 year and 0.19 over 5 years.
Is IHT a good diversifier for CODX?
Reasonably. At 0.31, CODX and IHT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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.
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Related comparisons
Hubs: CODX correlations · IHT correlations
