LICN vs TXNM: Correlation
Measured on weekly returns over the past three years, Lichen International Limited - Class A (LICN) and TXNM Energy, Inc. (TXNM) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LICN and TXNM?
Over the past 3 years, LICN and TXNM moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.30 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -43759.8 %².
By 3-year correlation, TXNM places #79 of the 85 assets tracked against LICN. The last year tells two different stories: TXNM led by 79.2 percentage points, -74.7% for LICN against +4.5% for TXNM. One caveat on sizing: LICN is 498.7 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 TXNM: side by side
| LICN (Lichen International Limited - Class A) | TXNM (TXNM Energy, Inc.) | |
|---|---|---|
| 1-year return | -74.7% | +4.5% |
| 5-year return | n/a | +36.1% |
| Volatility (ann.) | 8528.0% | 17.1% |
| Beta vs S&P 500 | -80.22 | 0.10 |
| Max drawdown (3Y) | -98.4% | -21.0% |
| Market cap | – | $5.9B |
| P/E (trailing) | – | 31.4 |
| Dividend yield | 0.00% | 2.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LICN | TXNM |
|---|---|---|
| 2022 | – | +10.2% |
| 2023 | – | -12.0% |
| 2024 | -91.0% | +23.0% |
| 2025 | +1484.3% | +23.4% |
| 2026 | -56.7% | -0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LICN and TXNM good diversifiers for each other?
Yes. With a correlation of -0.30, LICN and TXNM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between LICN and TXNM?
Using weekly returns as of 2026-08-27: -0.30 over 3 years, with -0.40 over the last year and n/a over 5 years.
Is TXNM a good diversifier for LICN?
Yes. With a correlation of -0.30, LICN and TXNM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
A reading of -0.30 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-txnm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/licn-vs-txnm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LICN correlations · TXNM correlations
