LAES vs TLF: Correlation
How closely do SEALSQ Corp (LAES) and Tandy Leather Factory, Inc. (TLF) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAES and TLF?
On 3 years of weekly data the LAES/TLF correlation comes out at 0.36, moderate. The relationship has been stable: the 1-year correlation (0.33) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 2483.6 %².
By 3-year correlation, TLF places #14 of the 26 assets tracked against LAES. The last year tells two different stories: TLF led by 16.4 percentage points, -4.4% for LAES against +12.0% for TLF. One caveat on sizing: LAES is 9.9 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.
LAES vs TLF: side by side
| LAES (SEALSQ Corp) | TLF (Tandy Leather Factory, Inc.) | |
|---|---|---|
| 1-year return | -4.4% | +12.0% |
| 5-year return | n/a | +11.5% |
| Volatility (ann.) | 261.5% | 26.5% |
| Beta vs S&P 500 | 1.57 | 0.23 |
| Max drawdown (3Y) | -94.5% | -34.9% |
| Market cap | $0.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LAES | TLF |
|---|---|---|
| 2022 | – | -17.5% |
| 2023 | – | +0.2% |
| 2024 | +380.5% | +12.4% |
| 2025 | -38.5% | -20.9% |
| 2026 | -31.0% | +28.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAES and TLF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LAES and TLF?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.33 over the last year and n/a over 5 years.
Is TLF a good diversifier for LAES?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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-tlf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/laes-vs-tlf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LAES correlations · TLF correlations
