LOCL vs PXS: Correlation
Measured on weekly returns over the past three years, Local Bounti Corporation (LOCL) and Pyxis Tankers Inc. (PXS) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOCL and PXS?
Across a 3-year window, the weekly returns of LOCL and PXS correlate at -0.24, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.24). Stretching to 5 years gives -0.14, with an annualized covariance of -1300.9 %².
Among the 34 assets we track against LOCL, PXS ranks #27 by 3-year correlation. The last year tells two different stories: PXS led by 158.8 percentage points, -58.8% for LOCL against +100.0% for PXS. Note the risk asymmetry: LOCL runs 3.8 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.
LOCL vs PXS: side by side
| LOCL (Local Bounti Corporation) | PXS (Pyxis Tankers Inc.) | |
|---|---|---|
| 1-year return | -58.8% | +100.0% |
| 5-year return | -99.2% | +92.9% |
| Volatility (ann.) | 142.7% | 37.9% |
| Beta vs S&P 500 | -0.49 | 0.42 |
| Max drawdown (3Y) | -79.4% | -54.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 15.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOCL | PXS |
|---|---|---|
| 2022 | -78.4% | +151.0% |
| 2023 | -88.5% | -13.5% |
| 2024 | +0.0% | -5.8% |
| 2025 | +3.4% | -28.5% |
| 2026 | -53.8% | +92.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOCL and PXS good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between LOCL and PXS?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.09 over the last year and -0.14 over 5 years.
Is PXS a good diversifier for LOCL?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/locl-vs-pxs.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/locl-vs-pxs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LOCL correlations · PXS correlations
