SKYE vs XPON: Correlation
Skye Bioscience, Inc. (SKYE) and Expion360 Inc. (XPON) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SKYE and XPON?
On 3 years of weekly data the SKYE/XPON correlation comes out at 0.51, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.90 versus 0.51 over 3 years. The 5-year figure is 0.41, and annualized covariance runs at 28250.7 %².
Within SKYE's tracked universe of 10 assets, XPON comes in at #5 by 3-year correlation. The last year tells two different stories: SKYE led by 16.4 percentage points, -43.6% for SKYE against -60.0% for XPON. Risk is not evenly split, since SKYE carries 2.7 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.
SKYE vs XPON: side by side
| SKYE (Skye Bioscience, Inc.) | XPON (Expion360 Inc.) | |
|---|---|---|
| 1-year return | -43.6% | -60.0% |
| 5-year return | -94.3% | -99.9% |
| Volatility (ann.) | 384.6% | 144.0% |
| Beta vs S&P 500 | 2.80 | 1.37 |
| Max drawdown (3Y) | -98.4% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SKYE | XPON |
|---|---|---|
| 2022 | -69.2% | – |
| 2023 | -32.0% | +134.3% |
| 2024 | +4.0% | -99.6% |
| 2025 | -73.5% | -71.6% |
| 2026 | +160.0% | -2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SKYE and XPON good diversifiers for each other?
Only partially. A correlation of 0.51 means SKYE and XPON 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 SKYE and XPON?
As of 2026-08-27, the correlation of weekly returns between SKYE and XPON is 0.51 over 3 years, 0.90 over 1 year and 0.41 over 5 years.
Is XPON a good diversifier for SKYE?
Only partially. A correlation of 0.51 means SKYE and XPON share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/skye-vs-xpon.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/skye-vs-xpon/)
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Related comparisons
Hubs: SKYE correlations · XPON correlations
