SPPL vs TONX: Correlation
How closely do SIMPPLE LTD. (SPPL) and TON Strategy Company (TONX) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPPL and TONX?
Over the past 3 years, SPPL and TONX moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.28) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -6564.6 %².
TONX is close to the least connected end of SPPL's tracked universe, ranking #9 of 13. Their recent paths diverged sharply: over the last 12 months SPPL outperformed by 46.2 percentage points (-31.0% for SPPL against -77.2% for TONX).
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.
SPPL vs TONX: side by side
| SPPL (SIMPPLE LTD.) | TONX (TON Strategy Company) | |
|---|---|---|
| 1-year return | -31.0% | -77.2% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 172.3% | 182.6% |
| Beta vs S&P 500 | 3.00 | 1.57 |
| Max drawdown (3Y) | -97.6% | -99.7% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPPL | TONX |
|---|---|---|
| 2022 | – | -86.8% |
| 2023 | – | -97.4% |
| 2024 | -83.1% | -81.0% |
| 2025 | -46.9% | -69.6% |
| 2026 | -49.6% | +71.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPPL and TONX good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SPPL and TONX?
The SPPL/TONX correlation stands at -0.23 on a 3-year window (1 year: -0.28, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TONX a good diversifier for SPPL?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/sppl-vs-tonx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sppl-vs-tonx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SPPL correlations · TONX correlations
