HWH vs OIO: Correlation
How closely do HWH International Inc. (HWH) and OIO Group (OIO) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HWH and OIO?
On 3 years of weekly data the HWH/OIO correlation comes out at 0.26, weak. The past 12 months show a tighter link (0.50) than the 3-year average (0.26). The 5-year figure is 0.22, and annualized covariance runs at 5271.7 %².
Within HWH's tracked universe of 12 assets, OIO comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with HWH ahead by 115.2 points (+41.1% versus -74.1%). One caveat on sizing: HWH is 2.0 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.
HWH vs OIO: side by side
| HWH (HWH International Inc.) | OIO (OIO Group) | |
|---|---|---|
| 1-year return | +41.1% | -74.1% |
| 5-year return | -95.9% | -93.0% |
| Volatility (ann.) | 198.9% | 100.9% |
| Beta vs S&P 500 | 0.98 | 0.48 |
| Max drawdown (3Y) | -98.3% | -87.4% |
| Market cap | – | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HWH | OIO |
|---|---|---|
| 2023 | +2.5% | -93.1% |
| 2024 | -93.7% | +91.1% |
| 2025 | -53.8% | +200.8% |
| 2026 | +33.6% | -82.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HWH and OIO good diversifiers for each other?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HWH and OIO?
The HWH/OIO correlation stands at 0.26 on a 3-year window (1 year: 0.50, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is OIO a good diversifier for HWH?
A fair diversifier. At 0.26, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.26 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/hwh-vs-oio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hwh-vs-oio/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HWH correlations · OIO correlations
