DNUT vs TLSA: Correlation
Measured on weekly returns over the past three years, Krispy Kreme, Inc. (DNUT) and Tiziana Life Sciences Ltd (TLSA) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNUT and TLSA?
On 3 years of weekly data the DNUT/TLSA correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.23 over 3 years. The 5-year figure is -0.16, and annualized covariance runs at -1400.4 %².
TLSA is close to the least connected end of DNUT's tracked universe, ranking #11 of 13. Their recent paths diverged sharply: over the last 12 months DNUT outperformed by 36.6 percentage points (-5.0% for DNUT against -41.6% for TLSA).
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.
DNUT vs TLSA: side by side
| DNUT (Krispy Kreme, Inc.) | TLSA (Tiziana Life Sciences Ltd) | |
|---|---|---|
| 1-year return | -5.0% | -41.6% |
| 5-year return | -78.8% | -31.6% |
| Volatility (ann.) | 64.8% | 92.1% |
| Beta vs S&P 500 | 1.27 | -0.48 |
| Max drawdown (3Y) | -84.9% | -64.4% |
| Market cap | $0.6B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNUT | TLSA |
|---|---|---|
| 2022 | -44.9% | -37.5% |
| 2023 | +47.7% | -6.7% |
| 2024 | -33.4% | +25.0% |
| 2025 | -59.0% | +112.9% |
| 2026 | -14.9% | -27.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNUT and TLSA good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DNUT and TLSA?
As of 2026-08-27, the correlation of weekly returns between DNUT and TLSA is -0.23 over 3 years, -0.04 over 1 year and -0.16 over 5 years.
Is TLSA a good diversifier for DNUT?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dnut-vs-tlsa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dnut-vs-tlsa/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: DNUT correlations · TLSA correlations
