SNGX vs TOYO: Correlation
How closely do Soligenix, Inc. (SNGX) and TOYO Co., Ltd (TOYO) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNGX and TOYO?
Over the past 3 years, SNGX and TOYO moved with a correlation of 0.33, which is moderate. The past 12 months show a weaker link (-0.04) than the 3-year average (0.33). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 7267.8 %².
Among the 14 assets we track against SNGX, TOYO ranks #8 by 3-year correlation. The last year tells two different stories: TOYO led by 73.7 percentage points, -87.3% for SNGX against -13.6% for TOYO. Note the risk asymmetry: SNGX runs 1.9 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.
SNGX vs TOYO: side by side
| SNGX (Soligenix, Inc.) | TOYO (TOYO Co., Ltd) | |
|---|---|---|
| 1-year return | -87.3% | -13.6% |
| 5-year return | -99.8% | -54.4% |
| Volatility (ann.) | 205.9% | 107.7% |
| Beta vs S&P 500 | 0.50 | 0.34 |
| Max drawdown (3Y) | -98.2% | -86.3% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 2.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SNGX | TOYO |
|---|---|---|
| 2022 | -31.8% | – |
| 2023 | -88.7% | +8.0% |
| 2024 | -77.8% | -69.3% |
| 2025 | -50.4% | +73.4% |
| 2026 | -71.6% | -23.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNGX and TOYO good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SNGX and TOYO?
As of 2026-08-27, the correlation of weekly returns between SNGX and TOYO is 0.33 over 3 years, -0.04 over 1 year and 0.31 over 5 years.
Is TOYO a good diversifier for SNGX?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 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/sngx-vs-toyo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/sngx-vs-toyo/)
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Related comparisons
Hubs: SNGX correlations · TOYO correlations
