SBI vs TNXP: Correlation
Western Asset Intermediate Muni Fund Inc (SBI) and Tonix Pharmaceuticals Holding Corp. (TNXP) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SBI and TNXP?
Over the past 3 years, SBI and TNXP moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.19) than the 3-year average (-0.21). Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -270.9 %².
TNXP is close to the least connected end of SBI's tracked universe, ranking #11 of 14. Their recent paths diverged sharply: over the last 12 months SBI outperformed by 64.2 percentage points (+6.3% for SBI against -57.9% for TNXP). Risk is not evenly split, since TNXP carries 20.9 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.
SBI vs TNXP: side by side
| SBI (Western Asset Intermediate Muni Fund Inc) | TNXP (Tonix Pharmaceuticals Holding Corp.) | |
|---|---|---|
| 1-year return | +6.3% | -57.9% |
| 5-year return | +0.9% | -100.0% |
| Volatility (ann.) | 7.9% | 164.8% |
| Beta vs S&P 500 | 0.19 | 1.57 |
| Max drawdown (3Y) | -7.9% | -99.8% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | 12.5 | – |
| Dividend yield | 3.31% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SBI | TNXP |
|---|---|---|
| 2022 | -18.4% | -96.6% |
| 2023 | +5.4% | -83.6% |
| 2024 | +6.8% | -97.4% |
| 2025 | +5.9% | -52.7% |
| 2026 | +3.6% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SBI and TNXP good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SBI and TNXP?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with 0.19 over the last year and -0.03 over 5 years.
Is TNXP a good diversifier for SBI?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/sbi-vs-tnxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sbi-vs-tnxp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SBI correlations · TNXP correlations
