LICN vs SPG: Correlation
Measured on weekly returns over the past three years, Lichen International Limited - Class A (LICN) and Simon Property Group (SPG) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and SPG?
On 3 years of weekly data the LICN/SPG correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.21) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -42735.3 %².
By 3-year correlation, SPG places #54 of the 85 assets tracked against LICN. The last year tells two different stories: SPG led by 101.0 percentage points, -74.7% for LICN against +26.3% for SPG. One caveat on sizing: LICN is 375.7 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 SPG: side by side
| LICN (Lichen International Limited - Class A) | SPG (Simon Property Group) | |
|---|---|---|
| 1-year return | -74.7% | +26.3% |
| 5-year return | n/a | +110.2% |
| Volatility (ann.) | 8528.0% | 22.7% |
| Beta vs S&P 500 | -80.22 | 0.79 |
| Max drawdown (3Y) | -98.4% | -24.3% |
| Market cap | – | $81.6B |
| P/E (trailing) | – | 15.2 |
| Dividend yield | 0.00% | 4.05% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | LICN | SPG |
|---|---|---|
| 2022 | – | -21.9% |
| 2023 | – | +29.2% |
| 2024 | -91.0% | +26.9% |
| 2025 | +1484.3% | +12.9% |
| 2026 | -56.7% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and SPG good diversifiers for each other?
Yes. With a correlation of -0.22, LICN and SPG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LICN and SPG?
As of 2026-08-27, the correlation of weekly returns between LICN and SPG is -0.22 over 3 years, -0.21 over 1 year and n/a over 5 years.
Is SPG a good diversifier for LICN?
Yes. With a correlation of -0.22, LICN and SPG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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-spg.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/licn-vs-spg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LICN correlations · SPG correlations
