LICN vs MCO: Correlation
Lichen International Limited - Class A (LICN) and Moody's Corporation (MCO) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and MCO?
Across a 3-year window, the weekly returns of LICN and MCO correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.03) runs above the 3-year figure (-0.20). Stretching to 5 years gives n/a, with an annualized covariance of -43233.3 %².
By 3-year correlation, MCO places #44 of the 85 assets tracked against LICN. Their recent paths diverged sharply: over the last 12 months MCO outperformed by 75.4 percentage points (-74.7% for LICN against +0.7% for MCO). Note the risk asymmetry: LICN runs 330.5 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.
LICN vs MCO: side by side
| LICN (Lichen International Limited - Class A) | MCO (Moody's Corporation) | |
|---|---|---|
| 1-year return | -74.7% | +0.7% |
| 5-year return | n/a | +39.4% |
| Volatility (ann.) | 8528.0% | 25.8% |
| Beta vs S&P 500 | -80.22 | 1.08 |
| Max drawdown (3Y) | -98.4% | -24.7% |
| Market cap | – | $88.2B |
| P/E (trailing) | – | 32.7 |
| Dividend yield | 0.00% | 0.77% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | LICN | MCO |
|---|---|---|
| 2022 | – | -28.0% |
| 2023 | – | +41.5% |
| 2024 | -91.0% | +22.2% |
| 2025 | +1484.3% | +8.7% |
| 2026 | -56.7% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and MCO good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LICN and MCO?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with 0.03 over the last year and n/a over 5 years.
Is MCO a good diversifier for LICN?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
A reading of -0.20 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/licn-vs-mco.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/licn-vs-mco/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LICN correlations · MCO correlations
