ORBS vs SNPS: Correlation
How closely do Eightco Holdings Inc. (ORBS) and Synopsys (SNPS) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ORBS and SNPS?
Over the past 3 years, ORBS and SNPS moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.51) runs below the 3-year figure (-0.37). Over 5 years the correlation is -0.30, and the annualized covariance of weekly returns is -8890.6 %².
SNPS is close to the least connected end of ORBS's tracked universe, ranking #28 of 28. Correlation aside, the last 12 months split them widely, with SNPS ahead by 22.0 points (-44.9% versus -22.9%). Note the risk asymmetry: ORBS runs 13.6 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.
ORBS vs SNPS: side by side
| ORBS (Eightco Holdings Inc.) | SNPS (Synopsys) | |
|---|---|---|
| 1-year return | -44.9% | -22.9% |
| 5-year return | -100.0% | +39.1% |
| Volatility (ann.) | 575.8% | 42.2% |
| Beta vs S&P 500 | 3.91 | 1.57 |
| Max drawdown (3Y) | -98.7% | -42.3% |
| Market cap | $0.3B | $89.1B |
| P/E (trailing) | – | 71.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | ORBS | SNPS |
|---|---|---|
| 2022 | – | -13.4% |
| 2023 | -94.6% | +61.3% |
| 2024 | -14.8% | -5.7% |
| 2025 | -21.0% | -3.2% |
| 2026 | -52.6% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ORBS and SNPS good diversifiers for each other?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ORBS and SNPS?
The ORBS/SNPS correlation stands at -0.37 on a 3-year window (1 year: -0.51, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is SNPS a good diversifier for ORBS?
Yes: at -0.37, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.37 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: ORBS correlations · SNPS correlations
