AAL vs BRN: Correlation
How closely do American Airlines Group, Inc. (AAL) and Barnwell Industries, Inc. (BRN) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAL and BRN?
Across a 3-year window, the weekly returns of AAL and BRN correlate at -0.32, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.32 over 3. Stretching to 5 years gives -0.18, with an annualized covariance of -769.0 %².
Within AAL's tracked universe of 22 assets, BRN comes in at #17 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AAL outperformed by 23.6 percentage points (+4.5% for AAL against -19.1% for BRN).
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.
AAL vs BRN: side by side
| AAL (American Airlines Group, Inc.) | BRN (Barnwell Industries, Inc.) | |
|---|---|---|
| 1-year return | +4.5% | -19.1% |
| 5-year return | -29.7% | -58.9% |
| Volatility (ann.) | 45.3% | 53.1% |
| Beta vs S&P 500 | 1.29 | -0.22 |
| Max drawdown (3Y) | -51.4% | -68.5% |
| Market cap | $9.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAL | BRN |
|---|---|---|
| 2022 | -29.2% | +2.8% |
| 2023 | +8.0% | -16.5% |
| 2024 | +26.9% | -37.9% |
| 2025 | -12.0% | -26.5% |
| 2026 | -10.5% | -14.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAL and BRN good diversifiers for each other?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AAL and BRN?
The AAL/BRN correlation stands at -0.32 on a 3-year window (1 year: -0.28, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is BRN a good diversifier for AAL?
Yes: at -0.32, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.32 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/aal-vs-brn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aal-vs-brn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AAL correlations · BRN correlations
