LICN vs RJF: Correlation
Lichen International Limited - Class A (LICN) and Raymond James Financial (RJF) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and RJF?
Across a 3-year window, the weekly returns of LICN and RJF correlate at -0.18, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.11) than the 3-year average (-0.18). Stretching to 5 years gives n/a, with an annualized covariance of -37809.1 %².
By 3-year correlation, RJF places #34 of the 85 assets tracked against LICN. Their recent paths diverged sharply: over the last 12 months RJF outperformed by 81.0 percentage points (-74.7% for LICN against +6.3% for RJF). One caveat on sizing: LICN is 343.9 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 RJF: side by side
| LICN (Lichen International Limited - Class A) | RJF (Raymond James Financial) | |
|---|---|---|
| 1-year return | -74.7% | +6.3% |
| 5-year return | n/a | +102.1% |
| Volatility (ann.) | 8528.0% | 24.8% |
| Beta vs S&P 500 | -80.22 | 1.03 |
| Max drawdown (3Y) | -98.4% | -28.1% |
| Market cap | – | $33.8B |
| P/E (trailing) | – | 15.4 |
| Dividend yield | 0.00% | 1.20% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | LICN | RJF |
|---|---|---|
| 2022 | – | +8.3% |
| 2023 | – | +6.1% |
| 2024 | -91.0% | +40.8% |
| 2025 | +1484.3% | +4.7% |
| 2026 | -56.7% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and RJF good diversifiers for each other?
Yes. With a correlation of -0.18, LICN and RJF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LICN and RJF?
The LICN/RJF correlation stands at -0.18 on a 3-year window (1 year: 0.11, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RJF a good diversifier for LICN?
Yes. With a correlation of -0.18, LICN and RJF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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-rjf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/licn-vs-rjf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LICN correlations · RJF correlations
