LICN vs RYAM: Correlation
How closely do Lichen International Limited - Class A (LICN) and Rayonier Advanced Materials Inc. (RYAM) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and RYAM?
Over the past 3 years, LICN and RYAM moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.14) than the 3-year average (-0.22). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -113895.2 %².
Among the 85 assets we track against LICN, RYAM ranks #53 by 3-year correlation. The last year tells two different stories: RYAM led by 134.2 percentage points, -74.7% for LICN against +59.5% for RYAM. Risk is not evenly split, since LICN carries 141.0 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 RYAM: side by side
| LICN (Lichen International Limited - Class A) | RYAM (Rayonier Advanced Materials Inc.) | |
|---|---|---|
| 1-year return | -74.7% | +59.5% |
| 5-year return | n/a | +22.2% |
| Volatility (ann.) | 8528.0% | 60.5% |
| Beta vs S&P 500 | -80.22 | 1.27 |
| Max drawdown (3Y) | -98.4% | -63.7% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LICN | RYAM |
|---|---|---|
| 2022 | – | +68.1% |
| 2023 | – | -57.8% |
| 2024 | -91.0% | +103.7% |
| 2025 | +1484.3% | -28.6% |
| 2026 | -56.7% | +43.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and RYAM good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between LICN and RYAM?
As of 2026-08-27, the correlation of weekly returns between LICN and RYAM is -0.22 over 3 years, 0.14 over 1 year and n/a over 5 years.
Is RYAM a good diversifier for LICN?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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-ryam.json
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[](https://www.pairbook.io/pair/licn-vs-ryam/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LICN correlations · RYAM correlations
