LICN vs MS: Correlation
Measured on weekly returns over the past three years, Lichen International Limited - Class A (LICN) and Morgan Stanley (MS) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and MS?
Over the past 3 years, LICN and MS moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.07 versus -0.23 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -54369.2 %².
By 3-year correlation, MS places #59 of the 85 assets tracked against LICN. Correlation aside, the last 12 months split them widely, with MS ahead by 121.8 points (-74.7% versus +47.1%). One caveat on sizing: LICN is 301.3 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.
LICN vs MS: side by side
| LICN (Lichen International Limited - Class A) | MS (Morgan Stanley) | |
|---|---|---|
| 1-year return | -74.7% | +47.1% |
| 5-year return | n/a | +142.0% |
| Volatility (ann.) | 8528.0% | 28.3% |
| Beta vs S&P 500 | -80.22 | 1.43 |
| Max drawdown (3Y) | -98.4% | -29.2% |
| Market cap | – | $337.5B |
| P/E (trailing) | – | 17.4 |
| Dividend yield | 0.00% | 1.94% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | LICN | MS |
|---|---|---|
| 2022 | – | -10.3% |
| 2023 | – | +13.9% |
| 2024 | -91.0% | +39.7% |
| 2025 | +1484.3% | +45.2% |
| 2026 | -56.7% | +23.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and MS good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LICN and MS?
The LICN/MS correlation stands at -0.23 on a 3-year window (1 year: 0.07, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MS a good diversifier for LICN?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/licn-vs-ms.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/licn-vs-ms/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LICN correlations · MS correlations
