OPTX vs TNXP: Correlation
Syntec Optics Holdings, Inc. (OPTX) and Tonix Pharmaceuticals Holding Corp. (TNXP) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OPTX and TNXP?
Over the past 3 years, OPTX and TNXP moved with a correlation of 0.48, which is moderate. The link has loosened recently: the 1-year correlation (-0.21) runs below the 3-year figure (0.48). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 15215.8 %².
Within OPTX's tracked universe of 12 assets, TNXP comes in at #4 by 3-year correlation. The last year tells two different stories: OPTX led by 507.0 percentage points, +449.1% for OPTX against -57.9% for TNXP.
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.
OPTX vs TNXP: side by side
| OPTX (Syntec Optics Holdings, Inc.) | TNXP (Tonix Pharmaceuticals Holding Corp.) | |
|---|---|---|
| 1-year return | +449.1% | -57.9% |
| 5-year return | -11.3% | -100.0% |
| Volatility (ann.) | 192.0% | 164.8% |
| Beta vs S&P 500 | 1.00 | 1.57 |
| Max drawdown (3Y) | -93.0% | -99.8% |
| Market cap | $0.4B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OPTX | TNXP |
|---|---|---|
| 2022 | – | -96.6% |
| 2023 | -49.7% | -83.6% |
| 2024 | -49.9% | -97.4% |
| 2025 | +13.5% | -52.7% |
| 2026 | +205.2% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OPTX and TNXP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OPTX and TNXP?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with -0.21 over the last year and 0.42 over 5 years.
Is TNXP a good diversifier for OPTX?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/optx-vs-tnxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/optx-vs-tnxp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OPTX correlations · TNXP correlations
