LITS vs NUWE: Correlation
How closely do Lite Strategy, Inc. (LITS) and Nuwellis, Inc. (NUWE) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LITS and NUWE?
Across a 3-year window, the weekly returns of LITS and NUWE correlate at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.19 versus 0.38 over 3 years. Stretching to 5 years gives 0.23, with an annualized covariance of 4959.3 %².
By 3-year correlation, NUWE places #6 of the 14 assets tracked against LITS. Correlation aside, the last 12 months split them widely, with LITS ahead by 18.9 points (-80.6% versus -99.5%). Note the risk asymmetry: NUWE runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
LITS vs NUWE: side by side
| LITS (Lite Strategy, Inc.) | NUWE (Nuwellis, Inc.) | |
|---|---|---|
| 1-year return | -80.6% | -99.5% |
| 5-year return | -97.7% | -100.0% |
| Volatility (ann.) | 93.2% | 141.6% |
| Beta vs S&P 500 | 0.44 | 1.66 |
| Max drawdown (3Y) | -89.2% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LITS | NUWE |
|---|---|---|
| 2022 | -91.0% | -90.6% |
| 2023 | +55.6% | -94.6% |
| 2024 | -57.6% | -94.5% |
| 2025 | -46.3% | -96.3% |
| 2026 | -24.2% | -98.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LITS and NUWE good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LITS and NUWE?
As of 2026-08-27, the correlation of weekly returns between LITS and NUWE is 0.38 over 3 years, 0.19 over 1 year and 0.23 over 5 years.
Is NUWE a good diversifier for LITS?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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/lits-vs-nuwe.json
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Related comparisons
Hubs: LITS correlations · NUWE correlations
