CRDL vs LSAK: Correlation
How closely do Cardiol Therapeutics Inc. - Class A (CRDL) and Lesaka Technologies, Inc. (LSAK) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CRDL and LSAK?
Over the past 3 years, CRDL and LSAK moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.09) than the 3-year average (-0.21). Over 5 years the correlation is -0.14, and the annualized covariance of weekly returns is -507.0 %².
Out of 10 assets tracked against CRDL, LSAK lands near the bottom at #8. Their recent paths diverged sharply: over the last 12 months CRDL outperformed by 87.7 percentage points (+83.9% for CRDL against -3.8% for LSAK). Risk is not evenly split, since CRDL carries 2.5 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.
CRDL vs LSAK: side by side
| CRDL (Cardiol Therapeutics Inc. - Class A) | LSAK (Lesaka Technologies, Inc.) | |
|---|---|---|
| 1-year return | +83.9% | -3.8% |
| 5-year return | -43.7% | +6.3% |
| Volatility (ann.) | 77.0% | 31.0% |
| Beta vs S&P 500 | 1.22 | 0.20 |
| Max drawdown (3Y) | -72.7% | -33.2% |
| Market cap | $0.2B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CRDL | LSAK |
|---|---|---|
| 2022 | -72.4% | -14.5% |
| 2023 | +65.3% | -28.8% |
| 2024 | +51.8% | +68.2% |
| 2025 | -25.5% | -12.5% |
| 2026 | +115.9% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CRDL and LSAK good diversifiers for each other?
Yes. With a correlation of -0.21, CRDL and LSAK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CRDL and LSAK?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.09 over the last year and -0.14 over 5 years.
Is LSAK a good diversifier for CRDL?
Yes. With a correlation of -0.21, CRDL and LSAK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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
$ curl https://www.pairbook.io/api/v1/pairs/crdl-vs-lsak.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/crdl-vs-lsak/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CRDL correlations · LSAK correlations
