MI vs SVRN: Correlation
How closely do NFT Limited Class A (MI) and OceanPal Inc. (SVRN) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MI and SVRN?
On 3 years of weekly data the MI/SVRN correlation comes out at 0.49, moderate. The past 12 months show a tighter link (0.74) than the 3-year average (0.49). The 5-year figure is 0.43, and annualized covariance runs at 337212.2 %².
By 3-year correlation, SVRN places #8 of the 32 assets tracked against MI. Their recent paths diverged sharply: over the last 12 months MI outperformed by 61.9 percentage points (-10.3% for MI against -72.2% for SVRN). Risk is not evenly split, since MI carries 28.9 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 SVRN: side by side
| MI (NFT Limited Class A) | SVRN (OceanPal Inc.) | |
|---|---|---|
| 1-year return | -10.3% | -72.2% |
| 5-year return | -99.5% | -100.0% |
| Volatility (ann.) | 4443.9% | 153.9% |
| Beta vs S&P 500 | 8.21 | 0.71 |
| Max drawdown (3Y) | -98.5% | -99.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MI | SVRN |
|---|---|---|
| 2022 | -86.4% | -99.4% |
| 2023 | -66.2% | -90.0% |
| 2024 | -61.9% | -48.0% |
| 2025 | +13.3% | -96.3% |
| 2026 | -28.9% | -59.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MI and SVRN good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MI and SVRN?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.74 over the last year and 0.43 over 5 years.
Is SVRN a good diversifier for MI?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 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 · SVRN correlations
