MOBX vs TPET: Correlation
How closely do Mobix Labs, Inc. (MOBX) and Trio Petroleum Corp. (TPET) trade together? Their weekly returns over three years give a correlation of 0.74, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MOBX and TPET?
Over the past 3 years, MOBX and TPET moved with a correlation of 0.74, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.98 versus 0.74 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 64969.3 %².
TPET is one of the assets that tracks MOBX most closely: it ranks #2 out of the 77 assets we track against MOBX. The trailing year gives TPET the advantage: -88.0% versus -80.9%, a 7.1-point spread.
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.
MOBX vs TPET: side by side
| MOBX (Mobix Labs, Inc.) | TPET (Trio Petroleum Corp.) | |
|---|---|---|
| 1-year return | -88.0% | -80.9% |
| 5-year return | -98.8% | n/a |
| Volatility (ann.) | 333.1% | 264.2% |
| Beta vs S&P 500 | -0.62 | -2.89 |
| Max drawdown (3Y) | -99.1% | -98.5% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MOBX | TPET |
|---|---|---|
| 2022 | +3.8% | – |
| 2023 | -60.6% | – |
| 2024 | -57.7% | -80.5% |
| 2025 | -84.3% | -34.4% |
| 2026 | -57.3% | -72.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MOBX and TPET good diversifiers for each other?
Only partially. A correlation of 0.74 means MOBX and TPET share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between MOBX and TPET?
The MOBX/TPET correlation stands at 0.74 on a 3-year window (1 year: 0.98, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TPET a good diversifier for MOBX?
Only partially. A correlation of 0.74 means MOBX and TPET share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
On the −1 to +1 scale, 0.74 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: MOBX correlations · TPET correlations
