OXLC vs PMN: Correlation
Measured on weekly returns over the past three years, Oxford Lane Capital Corp. - Closed End Fund (OXLC) and ProMIS Neurosciences Inc. (PMN) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OXLC and PMN?
Over the past 3 years, OXLC and PMN moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.48) runs below the 3-year figure (-0.27). Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -945.3 %².
Out of 12 assets tracked against OXLC, PMN lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with PMN ahead by 32.4 points (-26.8% versus +5.6%). Note the risk asymmetry: PMN runs 4.3 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.
OXLC vs PMN: side by side
| OXLC (Oxford Lane Capital Corp. - Closed End Fund) | PMN (ProMIS Neurosciences Inc.) | |
|---|---|---|
| 1-year return | -26.8% | +5.6% |
| 5-year return | -22.9% | -94.2% |
| Volatility (ann.) | 28.7% | 122.6% |
| Beta vs S&P 500 | 0.62 | 0.45 |
| Max drawdown (3Y) | -57.2% | -90.4% |
| Market cap | $0.9B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 53.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OXLC | PMN |
|---|---|---|
| 2022 | -24.1% | -34.2% |
| 2023 | +16.5% | -73.5% |
| 2024 | +24.6% | -17.4% |
| 2025 | -24.4% | -71.2% |
| 2026 | -17.9% | +104.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OXLC and PMN good diversifiers for each other?
Yes. With a correlation of -0.27, OXLC and PMN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between OXLC and PMN?
As of 2026-08-27, the correlation of weekly returns between OXLC and PMN is -0.27 over 3 years, -0.48 over 1 year and -0.13 over 5 years.
Is PMN a good diversifier for OXLC?
Yes. With a correlation of -0.27, OXLC and PMN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/oxlc-vs-pmn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/oxlc-vs-pmn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OXLC correlations · PMN correlations
