AIRE vs ELUT: Correlation
Measured on weekly returns over the past three years, reAlpha Tech Corp. (AIRE) and Elutia, Inc. (ELUT) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRE and ELUT?
Across a 3-year window, the weekly returns of AIRE and ELUT correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.30 over 1 year against -0.23 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -4249.2 %².
ELUT is close to the least connected end of AIRE's tracked universe, ranking #16 of 18. Their recent paths diverged sharply: over the last 12 months ELUT outperformed by 20.2 percentage points (-80.4% for AIRE against -60.2% for ELUT). One caveat on sizing: AIRE is 2.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AIRE vs ELUT: side by side
| AIRE (reAlpha Tech Corp.) | ELUT (Elutia, Inc.) | |
|---|---|---|
| 1-year return | -80.4% | -60.2% |
| 5-year return | n/a | -89.2% |
| Volatility (ann.) | 227.0% | 81.4% |
| Beta vs S&P 500 | 2.00 | 0.14 |
| Max drawdown (3Y) | -100.0% | -89.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRE | ELUT |
|---|---|---|
| 2022 | – | -32.5% |
| 2023 | – | -49.2% |
| 2024 | +45.2% | +73.1% |
| 2025 | -85.6% | -81.5% |
| 2026 | -83.8% | +27.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRE and ELUT good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between AIRE and ELUT?
The AIRE/ELUT correlation stands at -0.23 on a 3-year window (1 year: -0.30, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is ELUT a good diversifier for AIRE?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 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/aire-vs-elut.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aire-vs-elut/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AIRE correlations · ELUT correlations
