LICN vs ONL: Correlation
Measured on weekly returns over the past three years, Lichen International Limited - Class A (LICN) and Orion Properties Inc. (ONL) carry a correlation of -0.45, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and ONL?
Across a 3-year window, the weekly returns of LICN and ONL correlate at -0.45, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.13 versus -0.45 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -194983.3 %².
Out of 85 assets tracked against LICN, ONL lands near the bottom at #85. Their recent paths diverged sharply: over the last 12 months ONL outperformed by 78.1 percentage points (-74.7% for LICN against +3.4% for ONL). One caveat on sizing: LICN is 165.9 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 ONL: side by side
| LICN (Lichen International Limited - Class A) | ONL (Orion Properties Inc.) | |
|---|---|---|
| 1-year return | -74.7% | +3.4% |
| 5-year return | n/a | -79.8% |
| Volatility (ann.) | 8528.0% | 51.4% |
| Beta vs S&P 500 | -80.22 | 1.30 |
| Max drawdown (3Y) | -98.4% | -71.5% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.85% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LICN | ONL |
|---|---|---|
| 2022 | – | -52.4% |
| 2023 | – | -28.4% |
| 2024 | -91.0% | -27.4% |
| 2025 | +1484.3% | -36.9% |
| 2026 | -56.7% | +30.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and ONL good diversifiers for each other?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LICN and ONL?
The LICN/ONL correlation stands at -0.45 on a 3-year window (1 year: -0.13, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ONL a good diversifier for LICN?
Yes: at -0.45, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.45 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-onl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/licn-vs-onl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LICN correlations · ONL correlations
