GNE vs TONX: Correlation
Measured on weekly returns over the past three years, Genie Energy Ltd. (GNE) and TON Strategy Company (TONX) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GNE and TONX?
On 3 years of weekly data the GNE/TONX correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.03 versus -0.22 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -1502.7 %².
Out of 10 assets tracked against GNE, TONX lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with GNE ahead by 77.9 points (+0.7% versus -77.2%). One caveat on sizing: TONX is 4.9 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.
GNE vs TONX: side by side
| GNE (Genie Energy Ltd.) | TONX (TON Strategy Company) | |
|---|---|---|
| 1-year return | +0.7% | -77.2% |
| 5-year return | +155.5% | -100.0% |
| Volatility (ann.) | 37.4% | 182.6% |
| Beta vs S&P 500 | 0.18 | 1.57 |
| Max drawdown (3Y) | -55.5% | -99.7% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | 13.4 | – |
| Dividend yield | 2.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GNE | TONX |
|---|---|---|
| 2022 | +95.3% | -86.8% |
| 2023 | +177.3% | -97.4% |
| 2024 | -43.6% | -81.0% |
| 2025 | -9.9% | -69.6% |
| 2026 | +9.9% | +71.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GNE and TONX good diversifiers for each other?
Yes. With a correlation of -0.22, GNE and TONX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GNE and TONX?
As of 2026-08-27, the correlation of weekly returns between GNE and TONX is -0.22 over 3 years, 0.03 over 1 year and -0.18 over 5 years.
Is TONX a good diversifier for GNE?
Yes. With a correlation of -0.22, GNE and TONX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/gne-vs-tonx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gne-vs-tonx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GNE correlations · TONX correlations
