OLOX vs SBET: Correlation
Measured on weekly returns over the past three years, Olenox Industries Inc. (OLOX) and Sharplink, Inc. (SBET) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLOX and SBET?
Across a 3-year window, the weekly returns of OLOX and SBET correlate at 0.31, moderate. The link has loosened recently: the 1-year correlation (-0.16) runs below the 3-year figure (0.31). Stretching to 5 years gives 0.29, with an annualized covariance of 33408.1 %².
In OLOX's tracked universe of 11 assets, SBET sits right near the top at #3. The last year tells two different stories: SBET led by 44.9 percentage points, -98.8% for OLOX against -53.9% for SBET. Risk is not evenly split, since SBET carries 3.6 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.
OLOX vs SBET: side by side
| OLOX (Olenox Industries Inc.) | SBET (Sharplink, Inc.) | |
|---|---|---|
| 1-year return | -98.8% | -53.9% |
| 5-year return | -100.0% | -98.8% |
| Volatility (ann.) | 173.6% | 616.8% |
| Beta vs S&P 500 | 0.94 | 3.10 |
| Max drawdown (3Y) | -100.0% | -94.2% |
| Market cap | – | $1.9B |
| P/E (trailing) | 0.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLOX | SBET |
|---|---|---|
| 2022 | -27.1% | -88.3% |
| 2023 | -26.7% | -51.6% |
| 2024 | -94.9% | -57.3% |
| 2025 | -93.9% | +16.4% |
| 2026 | -92.9% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLOX and SBET good diversifiers for each other?
Reasonably. At 0.31, OLOX and SBET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between OLOX and SBET?
As of 2026-08-27, the correlation of weekly returns between OLOX and SBET is 0.31 over 3 years, -0.16 over 1 year and 0.29 over 5 years.
Is SBET a good diversifier for OLOX?
Reasonably. At 0.31, OLOX and SBET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.31 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: OLOX correlations · SBET correlations
