ACRS vs AIRT: Correlation
How closely do Aclaris Therapeutics, Inc. (ACRS) and Air T, Inc. (AIRT) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ACRS and AIRT?
Across a 3-year window, the weekly returns of ACRS and AIRT correlate at 0.26, weak. The relationship has been stable: the 1-year correlation (0.26) sits close to the 3-year figure. Stretching to 5 years gives 0.17, with an annualized covariance of 1394.7 %².
Within ACRS's tracked universe of 14 assets, AIRT comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ACRS ahead by 197.3 points (+238.5% versus +41.2%). Risk is not evenly split, since ACRS carries 2.1 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.
ACRS vs AIRT: side by side
| ACRS (Aclaris Therapeutics, Inc.) | AIRT (Air T, Inc.) | |
|---|---|---|
| 1-year return | +238.5% | +41.2% |
| 5-year return | -60.0% | -4.1% |
| Volatility (ann.) | 105.3% | 51.1% |
| Beta vs S&P 500 | 1.25 | 0.05 |
| Max drawdown (3Y) | -91.9% | -49.3% |
| Market cap | $0.9B | $0.1B |
| P/E (trailing) | – | 1.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ACRS | AIRT |
|---|---|---|
| 2022 | +8.3% | -1.7% |
| 2023 | -93.3% | -31.6% |
| 2024 | +136.2% | +18.0% |
| 2025 | +21.4% | -4.3% |
| 2026 | +104.7% | +70.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ACRS and AIRT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ACRS and AIRT?
The ACRS/AIRT correlation stands at 0.26 on a 3-year window (1 year: 0.26, 5 years: 0.17), computed from weekly returns as of 2026-08-27.
Is AIRT a good diversifier for ACRS?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/acrs-vs-airt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/acrs-vs-airt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ACRS correlations · AIRT correlations
