ICON vs KUST: Correlation
How closely do Icon Energy Corp. (ICON) and Kustom Entertainment, Inc. (KUST) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICON and KUST?
Across a 3-year window, the weekly returns of ICON and KUST correlate at 0.33, moderate. The link has tightened recently: the 1-year correlation (0.51) runs above the 3-year figure (0.33). Stretching to 5 years gives n/a, with an annualized covariance of 5151.3 %².
Within ICON's tracked universe of 15 assets, KUST comes in at #7 by 3-year correlation. Over the last 12 months ICON came out ahead by 5.5 percentage points (-91.1% against -96.6%).
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.
ICON vs KUST: side by side
| ICON (Icon Energy Corp.) | KUST (Kustom Entertainment, Inc.) | |
|---|---|---|
| 1-year return | -91.1% | -96.6% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 114.3% | 124.3% |
| Beta vs S&P 500 | 2.01 | 1.75 |
| Max drawdown (3Y) | -99.9% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICON | KUST |
|---|---|---|
| 2022 | – | -78.5% |
| 2023 | – | -53.9% |
| 2024 | – | -75.0% |
| 2025 | -99.2% | -99.9% |
| 2026 | -71.1% | -89.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICON and KUST good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ICON and KUST?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.51 over the last year and n/a over 5 years.
Is KUST a good diversifier for ICON?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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/icon-vs-kust.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/icon-vs-kust/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ICON correlations · KUST correlations
