INLX vs TAN: Correlation
Measured on weekly returns over the past three years, Intellinetics, Inc. (INLX) and Invesco Solar ETF (TAN) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INLX and TAN?
Across a 3-year window, the weekly returns of INLX and TAN correlate at -0.16, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.19 over 1 year against -0.16 over 3. Stretching to 5 years gives 0.01, with an annualized covariance of -362.1 %².
Among the 24 assets we track against INLX, TAN ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TAN ahead by 67.8 points (-46.4% versus +21.4%). Note the risk asymmetry: INLX runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
INLX vs TAN: side by side
| INLX (Intellinetics, Inc.) | TAN (Invesco Solar ETF) | |
|---|---|---|
| 1-year return | -46.4% | +21.4% |
| 5-year return | +7.4% | -41.9% |
| Volatility (ann.) | 60.0% | 37.4% |
| Beta vs S&P 500 | -0.07 | 1.04 |
| Max drawdown (3Y) | -65.9% | -55.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | – |
| Sector / category | US Listed | ETF · Thematic |
Year-by-year returns
| Year | INLX | TAN |
|---|---|---|
| 2022 | -43.5% | -5.2% |
| 2023 | +18.5% | -26.8% |
| 2024 | +171.7% | -37.6% |
| 2025 | -42.0% | +48.3% |
| 2026 | -34.2% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INLX and TAN good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between INLX and TAN?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with -0.19 over the last year and 0.01 over 5 years.
Is TAN a good diversifier for INLX?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 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/inlx-vs-tan.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/inlx-vs-tan/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INLX correlations · TAN correlations
