IXHL vs LITS: Correlation
Incannex Healthcare Inc. (IXHL) and Lite Strategy, Inc. (LITS) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IXHL and LITS?
Across a 3-year window, the weekly returns of IXHL and LITS correlate at 0.51, moderate. The past 12 months show a weaker link (0.08) than the 3-year average (0.51). Stretching to 5 years gives 0.44, with an annualized covariance of 8631.5 %².
Few assets follow IXHL as closely as LITS, which ranks #2 of 10 tracked partners. Twelve-month performance is nearly a tie, at -81.6% for IXHL and -80.6% for LITS. One caveat on sizing: IXHL is 1.9 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.
IXHL vs LITS: side by side
| IXHL (Incannex Healthcare Inc.) | LITS (Lite Strategy, Inc.) | |
|---|---|---|
| 1-year return | -81.6% | -80.6% |
| 5-year return | -99.8% | -97.7% |
| Volatility (ann.) | 180.7% | 93.2% |
| Beta vs S&P 500 | 3.15 | 0.44 |
| Max drawdown (3Y) | -99.0% | -89.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IXHL | LITS |
|---|---|---|
| 2022 | – | -91.0% |
| 2023 | -58.6% | +55.6% |
| 2024 | -54.3% | -57.6% |
| 2025 | -83.1% | -46.3% |
| 2026 | -65.6% | -24.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IXHL and LITS good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between IXHL and LITS?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.08 over the last year and 0.44 over 5 years.
Is LITS a good diversifier for IXHL?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ixhl-vs-lits.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ixhl-vs-lits/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IXHL correlations · LITS correlations
