AIFF vs HRZN: Correlation
How closely do Firefly Neuroscience, Inc. (AIFF) and Horizon Technology Finance Corporation (HRZN) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIFF and HRZN?
On 3 years of weekly data the AIFF/HRZN correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.65) runs below the 3-year figure (-0.24). The 5-year figure is -0.18, and annualized covariance runs at -1479.7 %².
Among the 15 assets we track against AIFF, HRZN sits near the bottom by co-movement, at rank #15. Correlation aside, the last 12 months split them widely, with HRZN ahead by 44.3 points (-58.9% versus -14.6%). Note the risk asymmetry: AIFF runs 5.8 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.
AIFF vs HRZN: side by side
| AIFF (Firefly Neuroscience, Inc.) | HRZN (Horizon Technology Finance Corporation) | |
|---|---|---|
| 1-year return | -58.9% | -14.6% |
| 5-year return | -98.8% | -44.7% |
| Volatility (ann.) | 190.4% | 32.9% |
| Beta vs S&P 500 | 1.78 | 0.55 |
| Max drawdown (3Y) | -95.9% | -59.4% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 13.0 |
| Dividend yield | 0.00% | 23.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIFF | HRZN |
|---|---|---|
| 2022 | -90.3% | -19.7% |
| 2023 | -64.8% | +27.0% |
| 2024 | -47.7% | -22.9% |
| 2025 | -66.8% | -14.4% |
| 2026 | +22.7% | -14.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIFF and HRZN good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between AIFF and HRZN?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.65 over the last year and -0.18 over 5 years.
Is HRZN a good diversifier for AIFF?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/aiff-vs-hrzn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aiff-vs-hrzn/)
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Related comparisons
Hubs: AIFF correlations · HRZN correlations
