LAES vs RAND: Correlation
How closely do SEALSQ Corp (LAES) and Rand Capital Corporation - Closed End Fund (RAND) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAES and RAND?
Over the past 3 years, LAES and RAND moved with a correlation of 0.29, which is weak. The past 12 months show a weaker link (-0.08) than the 3-year average (0.29). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 2917.0 %².
Within LAES's tracked universe of 26 assets, RAND comes in at #16 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LAES ahead by 17.3 points (-4.4% versus -21.7%). Note the risk asymmetry: LAES runs 6.8 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.
LAES vs RAND: side by side
| LAES (SEALSQ Corp) | RAND (Rand Capital Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | -4.4% | -21.7% |
| 5-year return | n/a | +9.9% |
| Volatility (ann.) | 261.5% | 38.7% |
| Beta vs S&P 500 | 1.57 | -0.01 |
| Max drawdown (3Y) | -94.5% | -60.1% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 10.33% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LAES | RAND |
|---|---|---|
| 2022 | – | -17.0% |
| 2023 | – | +7.5% |
| 2024 | +380.5% | +91.4% |
| 2025 | -38.5% | -34.8% |
| 2026 | -31.0% | +2.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAES and RAND good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LAES and RAND?
Using weekly returns as of 2026-08-27: 0.29 over 3 years, with -0.08 over the last year and n/a over 5 years.
Is RAND a good diversifier for LAES?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
A reading of 0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/laes-vs-rand.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LAES correlations · RAND correlations
