LICN vs NTRS: Correlation
Lichen International Limited - Class A (LICN) and Northern Trust (NTRS) show a negative relationship: their 3-year correlation of weekly returns is -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and NTRS?
Across a 3-year window, the weekly returns of LICN and NTRS correlate at -0.15, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.04) runs above the 3-year figure (-0.15). Stretching to 5 years gives n/a, with an annualized covariance of -29458.2 %².
Among the 85 assets we track against LICN, NTRS ranks #15 by 3-year correlation. The last year tells two different stories: NTRS led by 119.5 percentage points, -74.7% for LICN against +44.8% for NTRS. One caveat on sizing: LICN is 359.8 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 NTRS: side by side
| LICN (Lichen International Limited - Class A) | NTRS (Northern Trust) | |
|---|---|---|
| 1-year return | -74.7% | +44.8% |
| 5-year return | n/a | +83.2% |
| Volatility (ann.) | 8528.0% | 23.7% |
| Beta vs S&P 500 | -80.22 | 1.08 |
| Max drawdown (3Y) | -98.4% | -25.2% |
| Market cap | – | $34.1B |
| P/E (trailing) | – | 16.1 |
| Dividend yield | 0.00% | 1.71% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | LICN | NTRS |
|---|---|---|
| 2022 | – | -23.8% |
| 2023 | – | -1.0% |
| 2024 | -91.0% | +25.6% |
| 2025 | +1484.3% | +36.9% |
| 2026 | -56.7% | +37.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and NTRS good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between LICN and NTRS?
As of 2026-08-27, the correlation of weekly returns between LICN and NTRS is -0.15 over 3 years, -0.04 over 1 year and n/a over 5 years.
Is NTRS a good diversifier for LICN?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/licn-vs-ntrs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/licn-vs-ntrs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LICN correlations · NTRS correlations
