NAKA vs SWVL: Correlation
Measured on weekly returns over the past three years, Nakamoto Inc. (NAKA) and Swvl Holdings Corp (SWVL) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NAKA and SWVL?
On 3 years of weekly data the NAKA/SWVL correlation comes out at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.28 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 8050.5 %².
By 3-year correlation, SWVL places #8 of the 17 assets tracked against NAKA. Correlation aside, the last 12 months split them widely, with SWVL ahead by 59.5 points (-96.9% versus -37.4%). Note the risk asymmetry: NAKA runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
NAKA vs SWVL: side by side
| NAKA (Nakamoto Inc.) | SWVL (Swvl Holdings Corp) | |
|---|---|---|
| 1-year return | -96.9% | -37.4% |
| 5-year return | n/a | -99.1% |
| Volatility (ann.) | 231.2% | 122.0% |
| Beta vs S&P 500 | 4.09 | 1.20 |
| Max drawdown (3Y) | -99.7% | -92.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 18.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NAKA | SWVL |
|---|---|---|
| 2022 | – | -98.6% |
| 2023 | – | -51.1% |
| 2024 | – | +281.3% |
| 2025 | -71.7% | -70.2% |
| 2026 | -44.9% | +16.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NAKA and SWVL good diversifiers for each other?
Reasonably. At 0.38, NAKA and SWVL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NAKA and SWVL?
As of 2026-08-27, the correlation of weekly returns between NAKA and SWVL is 0.38 over 3 years, 0.28 over 1 year and n/a over 5 years.
Is SWVL a good diversifier for NAKA?
Reasonably. At 0.38, NAKA and SWVL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/naka-vs-swvl.json
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[](https://www.pairbook.io/pair/naka-vs-swvl/)
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Related comparisons
Hubs: NAKA correlations · SWVL correlations
