LICN vs NRG: Correlation
How closely do Lichen International Limited - Class A (LICN) and NRG Energy (NRG) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and NRG?
Over the past 3 years, LICN and NRG moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -86839.3 %².
Among the 85 assets we track against LICN, NRG ranks #60 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NRG outperformed by 52.9 percentage points (-74.7% for LICN against -21.8% for NRG). Risk is not evenly split, since LICN carries 192.1 times the volatility of the other side.
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 NRG: side by side
| LICN (Lichen International Limited - Class A) | NRG (NRG Energy) | |
|---|---|---|
| 1-year return | -74.7% | -21.8% |
| 5-year return | n/a | +191.5% |
| Volatility (ann.) | 8528.0% | 44.4% |
| Beta vs S&P 500 | -80.22 | 1.30 |
| Max drawdown (3Y) | -98.4% | -38.9% |
| Market cap | – | $24.1B |
| P/E (trailing) | – | 30.2 |
| Dividend yield | 0.00% | 1.61% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | LICN | NRG |
|---|---|---|
| 2022 | – | -23.5% |
| 2023 | – | +69.4% |
| 2024 | -91.0% | +78.6% |
| 2025 | +1484.3% | +78.9% |
| 2026 | -56.7% | -27.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and NRG good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between LICN and NRG?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.27 over the last year and n/a over 5 years.
Is NRG a good diversifier for LICN?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 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-nrg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/licn-vs-nrg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LICN correlations · NRG correlations
