LB vs OLOX: Correlation
How closely do LandBridge Company LLC Class A Shares Representing Limited (LB) and Olenox Industries Inc. (OLOX) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LB and OLOX?
On 3 years of weekly data the LB/OLOX correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.44) than the 3-year average (-0.25). The 5-year figure is n/a, and annualized covariance runs at -2869.1 %².
Among the 15 assets we track against LB, OLOX sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months LB outperformed by 172.0 percentage points (+73.2% for LB against -98.8% for OLOX). One caveat on sizing: OLOX is 2.7 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.
LB vs OLOX: side by side
| LB (LandBridge Company LLC Class A Shares Representing Limited) | OLOX (Olenox Industries Inc.) | |
|---|---|---|
| 1-year return | +73.2% | -98.8% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 63.4% | 173.6% |
| Beta vs S&P 500 | 1.65 | 0.94 |
| Max drawdown (3Y) | -48.2% | -100.0% |
| Market cap | $6.9B | – |
| P/E (trailing) | 79.0 | 0.0 |
| Dividend yield | 0.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LB | OLOX |
|---|---|---|
| 2022 | – | -27.1% |
| 2023 | – | -26.7% |
| 2024 | – | -94.9% |
| 2025 | -23.7% | -93.9% |
| 2026 | +82.7% | -92.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LB and OLOX good diversifiers for each other?
Yes. With a correlation of -0.25, LB and OLOX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LB and OLOX?
As of 2026-08-27, the correlation of weekly returns between LB and OLOX is -0.25 over 3 years, -0.44 over 1 year and n/a over 5 years.
Is OLOX a good diversifier for LB?
Yes. With a correlation of -0.25, LB and OLOX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/lb-vs-olox.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lb-vs-olox/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LB correlations · OLOX correlations
