REFI vs SGC: Correlation
Measured on weekly returns over the past three years, Chicago Atlantic Real Estate Finance, Inc. (REFI) and Superior Group of Companies, Inc. (SGC) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REFI and SGC?
On 3 years of weekly data the REFI/SGC correlation comes out at 0.50, moderate. The past 12 months show a weaker link (0.36) than the 3-year average (0.50). The 5-year figure is 0.32, and annualized covariance runs at 430.0 %².
Few assets follow REFI as closely as SGC, which ranks #3 of 12 tracked partners. Over the last 12 months SGC came out ahead by 7.4 percentage points (-12.6% against -5.2%). Note the risk asymmetry: SGC runs 2.3 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.
REFI vs SGC: side by side
| REFI (Chicago Atlantic Real Estate Finance, Inc.) | SGC (Superior Group of Companies, Inc.) | |
|---|---|---|
| 1-year return | -12.6% | -5.2% |
| 5-year return | +21.3% | -35.8% |
| Volatility (ann.) | 19.4% | 44.5% |
| Beta vs S&P 500 | 0.51 | 1.20 |
| Max drawdown (3Y) | -24.9% | -58.1% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | 7.8 | 22.5 |
| Dividend yield | 17.60% | 4.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | REFI | SGC |
|---|---|---|
| 2022 | +3.4% | -52.4% |
| 2023 | +23.7% | +42.3% |
| 2024 | +8.7% | +26.9% |
| 2025 | -8.7% | -38.4% |
| 2026 | -5.3% | +30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REFI and SGC good diversifiers for each other?
Only partially. A correlation of 0.50 means REFI and SGC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between REFI and SGC?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.36 over the last year and 0.32 over 5 years.
Is SGC a good diversifier for REFI?
Only partially. A correlation of 0.50 means REFI and SGC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: REFI correlations · SGC correlations
