LFT vs TOP: Correlation
How closely do Lument Finance Trust, Inc. (LFT) and TOP Financial Group Limited - Class A (TOP) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LFT and TOP?
Across a 3-year window, the weekly returns of LFT and TOP correlate at -0.28, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.28 over 3. Stretching to 5 years gives -0.18, with an annualized covariance of -2120.4 %².
Among the 10 assets we track against LFT, TOP sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with TOP ahead by 1280.9 points (-63.0% versus +1217.9%). One caveat on sizing: TOP is 7.0 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.
LFT vs TOP: side by side
| LFT (Lument Finance Trust, Inc.) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | -63.0% | +1217.9% |
| 5-year return | -67.7% | -9.2% |
| Volatility (ann.) | 32.8% | 230.2% |
| Beta vs S&P 500 | 0.41 | 1.60 |
| Max drawdown (3Y) | -75.1% | -89.6% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 21.82% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LFT | TOP |
|---|---|---|
| 2022 | -45.1% | – |
| 2023 | +38.6% | -22.5% |
| 2024 | +29.4% | -59.5% |
| 2025 | -39.3% | -34.3% |
| 2026 | -44.4% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LFT and TOP good diversifiers for each other?
Yes. With a correlation of -0.28, LFT and TOP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LFT and TOP?
The LFT/TOP correlation stands at -0.28 on a 3-year window (1 year: -0.33, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is TOP a good diversifier for LFT?
Yes. With a correlation of -0.28, LFT and TOP have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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/lft-vs-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lft-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LFT correlations · TOP correlations
