EDSA vs TPET: Correlation
Measured on weekly returns over the past three years, Edesa Biotech, Inc. (EDSA) and Trio Petroleum Corp. (TPET) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDSA and TPET?
Across a 3-year window, the weekly returns of EDSA and TPET correlate at 0.49, moderate. The link has tightened recently: the 1-year correlation (0.64) runs above the 3-year figure (0.49). Stretching to 5 years gives n/a, with an annualized covariance of 24850.2 %².
Few assets follow EDSA as closely as TPET, which ranks #3 of 30 tracked partners. The last year tells two different stories: EDSA led by 172.6 percentage points, +91.7% for EDSA against -80.9% for TPET.
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.
EDSA vs TPET: side by side
| EDSA (Edesa Biotech, Inc.) | TPET (Trio Petroleum Corp.) | |
|---|---|---|
| 1-year return | +91.7% | -80.9% |
| 5-year return | -87.4% | n/a |
| Volatility (ann.) | 190.4% | 264.2% |
| Beta vs S&P 500 | -0.03 | -2.89 |
| Max drawdown (3Y) | -87.3% | -98.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDSA | TPET |
|---|---|---|
| 2022 | -61.6% | – |
| 2023 | -69.8% | – |
| 2024 | -63.2% | -80.5% |
| 2025 | -15.5% | -34.4% |
| 2026 | +223.9% | -72.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and TPET good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EDSA and TPET?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.64 over the last year and n/a over 5 years.
Is TPET a good diversifier for EDSA?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
On the −1 to +1 scale, 0.49 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/edsa-vs-tpet/)
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Related comparisons
Hubs: EDSA correlations · TPET correlations
