AIIO vs HCWB: Correlation
Measured on weekly returns over the past three years, Robo.ai Inc. - Class B (AIIO) and HCW Biologics Inc. (HCWB) carry a correlation of 0.55, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIIO and HCWB?
Across a 3-year window, the weekly returns of AIIO and HCWB correlate at 0.55, moderate. The link has tightened recently: the 1-year correlation (0.71) runs above the 3-year figure (0.55). Stretching to 5 years gives 0.51, with an annualized covariance of 36721.4 %².
Within AIIO's tracked universe of 35 assets, HCWB comes in at #4 by 3-year correlation. Their 12-month results are close: -91.3% for AIIO against -91.2% for HCWB.
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.
AIIO vs HCWB: side by side
| AIIO (Robo.ai Inc. - Class B) | HCWB (HCW Biologics Inc.) | |
|---|---|---|
| 1-year return | -91.3% | -91.2% |
| 5-year return | -98.8% | -99.7% |
| Volatility (ann.) | 280.6% | 238.8% |
| Beta vs S&P 500 | 0.74 | 1.21 |
| Max drawdown (3Y) | -99.7% | -99.7% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIIO | HCWB |
|---|---|---|
| 2022 | -9.2% | -17.5% |
| 2023 | -27.5% | -36.0% |
| 2024 | -91.0% | -63.6% |
| 2025 | -56.6% | -94.6% |
| 2026 | -61.3% | -45.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIIO and HCWB good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AIIO and HCWB?
The AIIO/HCWB correlation stands at 0.55 on a 3-year window (1 year: 0.71, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is HCWB a good diversifier for AIIO?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 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/aiio-vs-hcwb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aiio-vs-hcwb/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AIIO correlations · HCWB correlations
