NTZ vs SBET: Correlation
Measured on weekly returns over the past three years, Natuzzi, S.p.A. (NTZ) and Sharplink, Inc. (SBET) carry a correlation of 0.36, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NTZ and SBET?
Over the past 3 years, NTZ and SBET moved with a correlation of 0.36, which is moderate. The past 12 months show a weaker link (-0.00) than the 3-year average (0.36). Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 11492.3 %².
SBET is one of the assets that tracks NTZ most closely: it ranks #3 out of the 10 assets we track against NTZ. The trailing year gives SBET the advantage: -66.7% versus -53.9%, a 12.8-point spread. One caveat on sizing: SBET is 11.8 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.
NTZ vs SBET: side by side
| NTZ (Natuzzi, S.p.A.) | SBET (Sharplink, Inc.) | |
|---|---|---|
| 1-year return | -66.7% | -53.9% |
| 5-year return | -93.4% | -98.8% |
| Volatility (ann.) | 52.2% | 616.8% |
| Beta vs S&P 500 | 1.05 | 3.10 |
| Max drawdown (3Y) | -86.3% | -94.2% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NTZ | SBET |
|---|---|---|
| 2022 | -51.7% | -88.3% |
| 2023 | -12.0% | -51.6% |
| 2024 | -29.1% | -57.3% |
| 2025 | -50.8% | +16.4% |
| 2026 | -57.6% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NTZ and SBET good diversifiers for each other?
Reasonably. At 0.36, NTZ and SBET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NTZ and SBET?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with -0.00 over the last year and 0.26 over 5 years.
Is SBET a good diversifier for NTZ?
Reasonably. At 0.36, NTZ and SBET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.36 mean?
A reading of 0.36 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: NTZ correlations · SBET correlations
