PRTA vs SBET: Correlation
Measured on weekly returns over the past three years, Prothena Corporation plc (PRTA) and Sharplink, Inc. (SBET) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRTA and SBET?
Over the past 3 years, PRTA and SBET moved with a correlation of -0.30, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.05) than the 3-year average (-0.30). Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -10656.0 %².
Among the 11 assets we track against PRTA, SBET sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with PRTA ahead by 60.1 points (+6.2% versus -53.9%). Note the risk asymmetry: SBET runs 10.7 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.
PRTA vs SBET: side by side
| PRTA (Prothena Corporation plc) | SBET (Sharplink, Inc.) | |
|---|---|---|
| 1-year return | +6.2% | -53.9% |
| 5-year return | -86.9% | -98.8% |
| Volatility (ann.) | 57.9% | 616.8% |
| Beta vs S&P 500 | 0.93 | 3.10 |
| Max drawdown (3Y) | -91.9% | -94.2% |
| Market cap | $0.5B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRTA | SBET |
|---|---|---|
| 2022 | +22.0% | -88.3% |
| 2023 | -39.7% | -51.6% |
| 2024 | -61.9% | -57.3% |
| 2025 | -31.0% | +16.4% |
| 2026 | -4.8% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRTA and SBET good diversifiers for each other?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
FAQ
What is the correlation between PRTA and SBET?
The PRTA/SBET correlation stands at -0.30 on a 3-year window (1 year: 0.05, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is SBET a good diversifier for PRTA?
By historical standards, yes. A correlation of -0.30 means the two rarely move for the same reasons.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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.
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Related comparisons
Hubs: PRTA correlations · SBET correlations
