RRGB vs SBET: Correlation
How closely do Red Robin Gourmet Burgers, Inc. (RRGB) and Sharplink, Inc. (SBET) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RRGB and SBET?
Over the past 3 years, RRGB and SBET moved with a correlation of 0.40, which is moderate. The link has loosened recently: the 1-year correlation (0.20) runs below the 3-year figure (0.40). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 21301.4 %².
Within RRGB's tracked universe of 11 assets, SBET comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RRGB ahead by 99.3 points (+45.4% versus -53.9%). Risk is not evenly split, since SBET carries 7.2 times the volatility of the other side.
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.
RRGB vs SBET: side by side
| RRGB (Red Robin Gourmet Burgers, Inc.) | SBET (Sharplink, Inc.) | |
|---|---|---|
| 1-year return | +45.4% | -53.9% |
| 5-year return | -61.2% | -98.8% |
| Volatility (ann.) | 86.0% | 616.8% |
| Beta vs S&P 500 | 1.99 | 3.10 |
| Max drawdown (3Y) | -79.7% | -94.2% |
| Market cap | $0.2B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RRGB | SBET |
|---|---|---|
| 2022 | -66.2% | -88.3% |
| 2023 | +123.5% | -51.6% |
| 2024 | -56.0% | -57.3% |
| 2025 | -26.2% | +16.4% |
| 2026 | +132.6% | -0.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RRGB and SBET good diversifiers for each other?
Reasonably. At 0.40, RRGB and SBET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between RRGB and SBET?
The RRGB/SBET correlation stands at 0.40 on a 3-year window (1 year: 0.20, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is SBET a good diversifier for RRGB?
Reasonably. At 0.40, RRGB and SBET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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: RRGB correlations · SBET correlations
