INHD vs RFL: Correlation
How closely do Inno Holdings Inc. (INHD) and Rafael Holdings, Inc. (RFL) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INHD and RFL?
Over the past 3 years, INHD and RFL moved with a correlation of 0.42, which is moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.42). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 58972.8 %².
Among the 25 assets we track against INHD, RFL ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RFL ahead by 157.8 points (-99.8% versus +58.0%). One caveat on sizing: INHD is 36.6 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.
INHD vs RFL: side by side
| INHD (Inno Holdings Inc.) | RFL (Rafael Holdings, Inc.) | |
|---|---|---|
| 1-year return | -99.8% | +58.0% |
| 5-year return | n/a | -94.5% |
| Volatility (ann.) | 2238.2% | 61.2% |
| Beta vs S&P 500 | -0.52 | 0.61 |
| Max drawdown (3Y) | -100.0% | -59.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | 0.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INHD | RFL |
|---|---|---|
| 2022 | – | -63.3% |
| 2023 | – | -2.1% |
| 2024 | -67.3% | -9.8% |
| 2025 | -99.0% | -27.5% |
| 2026 | -73.7% | +100.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INHD and RFL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between INHD and RFL?
As of 2026-08-27, the correlation of weekly returns between INHD and RFL is 0.42 over 3 years, 0.59 over 1 year and n/a over 5 years.
Is RFL a good diversifier for INHD?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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.
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Hubs: INHD correlations · RFL correlations
