FXHO vs WRAP: Correlation
How closely do UTime Limited - Class A (FXHO) and Wrap Technologies, Inc. (WRAP) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FXHO and WRAP?
Across a 3-year window, the weekly returns of FXHO and WRAP correlate at 0.31, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.60 versus 0.31 over 3 years. Stretching to 5 years gives 0.23, with an annualized covariance of 5719.0 %².
Within FXHO's tracked universe of 12 assets, WRAP comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WRAP ahead by 130.1 points (-99.8% versus +30.3%). One caveat on sizing: FXHO is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FXHO vs WRAP: side by side
| FXHO (UTime Limited - Class A) | WRAP (Wrap Technologies, Inc.) | |
|---|---|---|
| 1-year return | -99.8% | +30.3% |
| 5-year return | -100.0% | -77.2% |
| Volatility (ann.) | 175.7% | 106.0% |
| Beta vs S&P 500 | 1.88 | 2.11 |
| Max drawdown (3Y) | -100.0% | -76.8% |
| Market cap | $0.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FXHO | WRAP |
|---|---|---|
| 2022 | -66.6% | -57.0% |
| 2023 | -69.2% | +83.4% |
| 2024 | -95.4% | -31.6% |
| 2025 | -99.7% | +12.3% |
| 2026 | -80.2% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FXHO and WRAP good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FXHO and WRAP?
As of 2026-08-27, the correlation of weekly returns between FXHO and WRAP is 0.31 over 3 years, 0.60 over 1 year and 0.23 over 5 years.
Is WRAP a good diversifier for FXHO?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
A reading of 0.31 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/fxho-vs-wrap.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fxho-vs-wrap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FXHO correlations · WRAP correlations
