AIRE vs GHRS: Correlation
Measured on weekly returns over the past three years, reAlpha Tech Corp. (AIRE) and GH Research PLC (GHRS) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRE and GHRS?
Over the past 3 years, AIRE and GHRS moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.19 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -3023.6 %².
Out of 18 assets tracked against AIRE, GHRS lands near the bottom at #14. Their recent paths diverged sharply: over the last 12 months GHRS outperformed by 190.6 percentage points (-80.4% for AIRE against +110.2% for GHRS). Risk is not evenly split, since AIRE carries 3.2 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 GHRS: side by side
| AIRE (reAlpha Tech Corp.) | GHRS (GH Research PLC) | |
|---|---|---|
| 1-year return | -80.4% | +110.2% |
| 5-year return | n/a | +34.4% |
| Volatility (ann.) | 227.0% | 70.0% |
| Beta vs S&P 500 | 2.00 | 1.07 |
| Max drawdown (3Y) | -100.0% | -57.5% |
| Market cap | – | $2.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRE | GHRS |
|---|---|---|
| 2022 | – | -58.3% |
| 2023 | – | -40.3% |
| 2024 | +45.2% | +20.7% |
| 2025 | -85.6% | +81.4% |
| 2026 | -83.8% | +125.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRE and GHRS good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between AIRE and GHRS?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.22 over the last year and n/a over 5 years.
Is GHRS a good diversifier for AIRE?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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.
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Related comparisons
Hubs: AIRE correlations · GHRS correlations
