CODX vs SVRN: Correlation
How closely do Co-Diagnostics, Inc. (CODX) and OceanPal Inc. (SVRN) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CODX and SVRN?
Across a 3-year window, the weekly returns of CODX and SVRN correlate at 0.39, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.61 versus 0.39 over 3 years. Stretching to 5 years gives 0.32, with an annualized covariance of 12143.3 %².
Among the 24 assets we track against CODX, SVRN ranks #12 by 3-year correlation. Over the last 12 months SVRN came out ahead by 14.9 percentage points (-87.1% against -72.2%).
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 SVRN: side by side
| CODX (Co-Diagnostics, Inc.) | SVRN (OceanPal Inc.) | |
|---|---|---|
| 1-year return | -87.1% | -72.2% |
| 5-year return | -99.6% | -100.0% |
| Volatility (ann.) | 203.9% | 153.9% |
| Beta vs S&P 500 | 2.30 | 0.71 |
| Max drawdown (3Y) | -97.9% | -99.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CODX | SVRN |
|---|---|---|
| 2022 | -71.8% | -99.4% |
| 2023 | -47.2% | -90.0% |
| 2024 | -43.6% | -48.0% |
| 2025 | -77.5% | -96.3% |
| 2026 | -75.1% | -59.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CODX and SVRN good diversifiers for each other?
Reasonably. At 0.39, CODX and SVRN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CODX and SVRN?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.61 over the last year and 0.32 over 5 years.
Is SVRN a good diversifier for CODX?
Reasonably. At 0.39, CODX and SVRN keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 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/codx-vs-svrn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/codx-vs-svrn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CODX correlations · SVRN correlations
