SIGA vs TONX: Correlation
SIGA Technologies Inc. (SIGA) and TON Strategy Company (TONX) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SIGA and TONX?
On 3 years of weekly data the SIGA/TONX correlation comes out at 0.42, moderate. The past 12 months show a weaker link (0.13) than the 3-year average (0.42). The 5-year figure is 0.36, and annualized covariance runs at 4885.6 %².
By 3-year correlation, TONX places #10 of the 15 assets tracked against SIGA. The last year tells two different stories: SIGA led by 19.1 percentage points, -58.1% for SIGA against -77.2% for TONX. Risk is not evenly split, since TONX carries 2.8 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.
SIGA vs TONX: side by side
| SIGA (SIGA Technologies Inc.) | TONX (TON Strategy Company) | |
|---|---|---|
| 1-year return | -58.1% | -77.2% |
| 5-year return | -27.3% | -100.0% |
| Volatility (ann.) | 64.1% | 182.6% |
| Beta vs S&P 500 | 1.22 | 1.57 |
| Max drawdown (3Y) | -70.1% | -99.7% |
| Market cap | $0.2B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SIGA | TONX |
|---|---|---|
| 2022 | +4.2% | -86.8% |
| 2023 | -17.6% | -97.4% |
| 2024 | +15.2% | -81.0% |
| 2025 | +12.3% | -69.6% |
| 2026 | -43.4% | +71.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SIGA and TONX good diversifiers for each other?
Reasonably. At 0.42, SIGA and TONX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SIGA and TONX?
As of 2026-08-27, the correlation of weekly returns between SIGA and TONX is 0.42 over 3 years, 0.13 over 1 year and 0.36 over 5 years.
Is TONX a good diversifier for SIGA?
Reasonably. At 0.42, SIGA and TONX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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/siga-vs-tonx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/siga-vs-tonx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SIGA correlations · TONX correlations
