LOCL vs SPMC: Correlation
Measured on weekly returns over the past three years, Local Bounti Corporation (LOCL) and Sound Point Meridian Capital, Inc. (SPMC) carry a correlation of -0.31, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LOCL and SPMC?
Across a 3-year window, the weekly returns of LOCL and SPMC correlate at -0.31, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.12) runs above the 3-year figure (-0.31). Stretching to 5 years gives n/a, with an annualized covariance of -1338.6 %².
Among the 34 assets we track against LOCL, SPMC sits near the bottom by co-movement, at rank #33. Their recent paths diverged sharply: over the last 12 months SPMC outperformed by 24.2 percentage points (-58.8% for LOCL against -34.6% for SPMC). Risk is not evenly split, since LOCL carries 4.5 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.
LOCL vs SPMC: side by side
| LOCL (Local Bounti Corporation) | SPMC (Sound Point Meridian Capital, Inc.) | |
|---|---|---|
| 1-year return | -58.8% | -34.6% |
| 5-year return | -99.2% | n/a |
| Volatility (ann.) | 142.7% | 31.4% |
| Beta vs S&P 500 | -0.49 | 1.01 |
| Max drawdown (3Y) | -79.4% | -52.9% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 30.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LOCL | SPMC |
|---|---|---|
| 2022 | -78.4% | – |
| 2023 | -88.5% | – |
| 2024 | +0.0% | – |
| 2025 | +3.4% | -22.5% |
| 2026 | -53.8% | -20.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LOCL and SPMC good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between LOCL and SPMC?
The LOCL/SPMC correlation stands at -0.31 on a 3-year window (1 year: -0.12, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPMC a good diversifier for LOCL?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 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/locl-vs-spmc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/locl-vs-spmc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LOCL correlations · SPMC correlations
