AIRE vs FWDI: Correlation
reAlpha Tech Corp. (AIRE) and Forward Industries, Inc. (FWDI) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRE and FWDI?
Over the past 3 years, AIRE and FWDI moved with a correlation of 0.45, which is moderate. The past 12 months show a tighter link (0.77) than the 3-year average (0.45). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 12872.4 %².
Within AIRE's tracked universe of 18 assets, FWDI comes in at #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FWDI ahead by 30.3 points (-80.4% versus -50.1%). Risk is not evenly split, since AIRE carries 1.8 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.
AIRE vs FWDI: side by side
| AIRE (reAlpha Tech Corp.) | FWDI (Forward Industries, Inc.) | |
|---|---|---|
| 1-year return | -80.4% | -50.1% |
| 5-year return | n/a | -73.8% |
| Volatility (ann.) | 227.0% | 123.1% |
| Beta vs S&P 500 | 2.00 | -0.00 |
| Max drawdown (3Y) | -100.0% | -90.9% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRE | FWDI |
|---|---|---|
| 2022 | – | -31.4% |
| 2023 | – | -31.8% |
| 2024 | +45.2% | -32.2% |
| 2025 | -85.6% | +33.5% |
| 2026 | -83.8% | +0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRE and FWDI good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AIRE and FWDI?
The AIRE/FWDI correlation stands at 0.45 on a 3-year window (1 year: 0.77, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FWDI a good diversifier for AIRE?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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-fwdi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aire-vs-fwdi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AIRE correlations · FWDI correlations
