LEXX vs TOP: Correlation
How closely do Lexaria Bioscience Corp. (LEXX) and TOP Financial Group Limited - Class A (TOP) trade together? Their weekly returns over three years give a correlation of 0.92, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LEXX and TOP?
Across a 3-year window, the weekly returns of LEXX and TOP correlate at 0.92, very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.98 over 1 year against 0.92 over 3. Stretching to 5 years gives 0.21, with an annualized covariance of 118993.9 %².
Few assets follow LEXX as closely as TOP, which ranks #1 of 10 tracked partners. Neither side won the trailing year by much: +1218.3% against +1217.9%. One caveat on sizing: LEXX is 2.4 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.
LEXX vs TOP: side by side
| LEXX (Lexaria Bioscience Corp.) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | +1218.3% | +1217.9% |
| 5-year return | +89.6% | -9.2% |
| Volatility (ann.) | 559.5% | 230.2% |
| Beta vs S&P 500 | 1.66 | 1.60 |
| Max drawdown (3Y) | -95.6% | -89.6% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LEXX | TOP |
|---|---|---|
| 2022 | -39.0% | – |
| 2023 | -49.2% | -22.5% |
| 2024 | +68.0% | -59.5% |
| 2025 | -70.6% | -34.3% |
| 2026 | +1793.0% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LEXX and TOP good diversifiers for each other?
No. With a correlation of 0.92, LEXX and TOP move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between LEXX and TOP?
The LEXX/TOP correlation stands at 0.92 on a 3-year window (1 year: 0.98, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is TOP a good diversifier for LEXX?
No. With a correlation of 0.92, LEXX and TOP move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.92 mean?
A reading of 0.92 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/lexx-vs-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lexx-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LEXX correlations · TOP correlations
