FOXX vs LEDS: Correlation
Foxx Development Holdings Inc. (FOXX) and SemiLEDS Corporation (LEDS) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOXX and LEDS?
On 3 years of weekly data the FOXX/LEDS correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. The 5-year figure is -0.21, and annualized covariance runs at -2249.9 %².
By 3-year correlation, LEDS places #20 of the 25 assets tracked against FOXX. Correlation aside, the last 12 months split them widely, with LEDS ahead by 55.3 points (-54.3% versus +1.0%).
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.
FOXX vs LEDS: side by side
| FOXX (Foxx Development Holdings Inc.) | LEDS (SemiLEDS Corporation) | |
|---|---|---|
| 1-year return | -54.3% | +1.0% |
| 5-year return | n/a | -78.8% |
| Volatility (ann.) | 108.9% | 90.7% |
| Beta vs S&P 500 | -0.69 | 1.11 |
| Max drawdown (3Y) | -87.3% | -67.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOXX | LEDS |
|---|---|---|
| 2022 | – | -65.4% |
| 2023 | +8.2% | -13.1% |
| 2024 | -48.4% | -7.2% |
| 2025 | -18.7% | +16.3% |
| 2026 | -40.9% | +32.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOXX and LEDS good diversifiers for each other?
Yes. With a correlation of -0.23, FOXX and LEDS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FOXX and LEDS?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.27 over the last year and -0.21 over 5 years.
Is LEDS a good diversifier for FOXX?
Yes. With a correlation of -0.23, FOXX and LEDS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/foxx-vs-leds.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/foxx-vs-leds/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FOXX correlations · LEDS correlations
