MI vs SBFM: Correlation
How closely do NFT Limited Class A (MI) and Sunshine Biopharma Inc. (SBFM) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MI and SBFM?
Across a 3-year window, the weekly returns of MI and SBFM correlate at 0.34, moderate. The past 12 months show a tighter link (0.58) than the 3-year average (0.34). Stretching to 5 years gives 0.24, with an annualized covariance of 189019.5 %².
Among the 32 assets we track against MI, SBFM ranks #13 by 3-year correlation. The last year tells two different stories: MI led by 81.1 percentage points, -10.3% for MI against -91.4% for SBFM. Risk is not evenly split, since MI carries 35.9 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 SBFM: side by side
| MI (NFT Limited Class A) | SBFM (Sunshine Biopharma Inc.) | |
|---|---|---|
| 1-year return | -10.3% | -91.4% |
| 5-year return | -99.5% | -100.0% |
| Volatility (ann.) | 4443.9% | 123.8% |
| Beta vs S&P 500 | 8.21 | 1.40 |
| Max drawdown (3Y) | -98.5% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MI | SBFM |
|---|---|---|
| 2022 | -86.4% | – |
| 2023 | -66.2% | -57.5% |
| 2024 | -61.9% | -99.4% |
| 2025 | +13.3% | -59.0% |
| 2026 | -28.9% | -89.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MI and SBFM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between MI and SBFM?
The MI/SBFM correlation stands at 0.34 on a 3-year window (1 year: 0.58, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is SBFM a good diversifier for MI?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
A reading of 0.34 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: MI correlations · SBFM correlations
