MSLE vs RENX: Correlation
Measured on weekly returns over the past three years, Satellos Bioscience Inc. (MSLE) and RenX Enterprises Corp. (RENX) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MSLE and RENX?
Across a 3-year window, the weekly returns of MSLE and RENX correlate at 0.34, moderate. The past 12 months show a weaker link (0.01) than the 3-year average (0.34). Stretching to 5 years gives n/a, with an annualized covariance of 8908.8 %².
RENX is one of the assets that tracks MSLE most closely: it ranks #2 out of the 10 assets we track against MSLE. Correlation aside, the last 12 months split them widely, with MSLE ahead by 173.0 points (+82.0% versus -91.0%). One caveat on sizing: RENX is 4.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
MSLE vs RENX: side by side
| MSLE (Satellos Bioscience Inc.) | RENX (RenX Enterprises Corp.) | |
|---|---|---|
| 1-year return | +82.0% | -91.0% |
| 5-year return | -36.4% | n/a |
| Volatility (ann.) | 80.3% | 322.0% |
| Beta vs S&P 500 | 0.86 | 1.58 |
| Max drawdown (3Y) | -57.0% | -99.9% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MSLE | RENX |
|---|---|---|
| 2022 | -78.8% | – |
| 2023 | +89.0% | – |
| 2024 | +81.5% | -90.5% |
| 2025 | -16.9% | -92.5% |
| 2026 | +63.4% | -46.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MSLE and RENX good diversifiers for each other?
Reasonably. At 0.34, MSLE and RENX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between MSLE and RENX?
The MSLE/RENX correlation stands at 0.34 on a 3-year window (1 year: 0.01, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RENX a good diversifier for MSLE?
Reasonably. At 0.34, MSLE and RENX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 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.
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Related comparisons
Hubs: MSLE correlations · RENX correlations
