MI vs OXSQ: Correlation
NFT Limited Class A (MI) and Oxford Square Capital Corp. - Closed End Fund (OXSQ) show a negative relationship: their 3-year correlation of weekly returns is -0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MI and OXSQ?
On 3 years of weekly data the MI/OXSQ correlation comes out at -0.49, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.56 over 1 year against -0.49 over 3. The 5-year figure is -0.39, and annualized covariance runs at -57455.4 %².
Out of 32 assets tracked against MI, OXSQ lands near the bottom at #32. The trailing year gives MI the advantage: -10.3% versus -20.9%, a 10.6-point spread. Risk is not evenly split, since MI carries 170.3 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.
MI vs OXSQ: side by side
| MI (NFT Limited Class A) | OXSQ (Oxford Square Capital Corp. - Closed End Fund) | |
|---|---|---|
| 1-year return | -10.3% | -20.9% |
| 5-year return | -99.5% | -29.3% |
| Volatility (ann.) | 4443.9% | 26.1% |
| Beta vs S&P 500 | 8.21 | 0.39 |
| Max drawdown (3Y) | -98.5% | -46.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 31.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MI | OXSQ |
|---|---|---|
| 2022 | -86.4% | -14.4% |
| 2023 | -66.2% | +9.2% |
| 2024 | -61.9% | -1.9% |
| 2025 | +13.3% | -13.3% |
| 2026 | -28.9% | -8.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MI and OXSQ good diversifiers for each other?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
FAQ
What is the correlation between MI and OXSQ?
As of 2026-08-27, the correlation of weekly returns between MI and OXSQ is -0.49 over 3 years, -0.56 over 1 year and -0.39 over 5 years.
Is OXSQ a good diversifier for MI?
By historical standards, yes. A correlation of -0.49 means the two rarely move for the same reasons.
What does a correlation of -0.49 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/mi-vs-oxsq.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mi-vs-oxsq/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MI correlations · OXSQ correlations
