AIRE vs WBD: Correlation
How closely do reAlpha Tech Corp. (AIRE) and Warner Bros. Discovery (WBD) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRE and WBD?
On 3 years of weekly data the AIRE/WBD correlation comes out at 0.46, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.88 versus 0.46 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 5849.1 %².
Within AIRE's tracked universe of 18 assets, WBD comes in at #7 by 3-year correlation. The last year tells two different stories: WBD led by 218.1 percentage points, -80.4% for AIRE against +137.7% for WBD. Note the risk asymmetry: AIRE runs 4.1 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.
AIRE vs WBD: side by side
| AIRE (reAlpha Tech Corp.) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | -80.4% | +137.7% |
| 5-year return | n/a | +3.7% |
| Volatility (ann.) | 227.0% | 54.7% |
| Beta vs S&P 500 | 2.00 | 1.19 |
| Max drawdown (3Y) | -100.0% | -48.9% |
| Market cap | – | $72.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | AIRE | WBD |
|---|---|---|
| 2022 | – | -59.7% |
| 2023 | – | +20.0% |
| 2024 | +45.2% | -7.1% |
| 2025 | -85.6% | +172.7% |
| 2026 | -83.8% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRE and WBD good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AIRE and WBD?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.88 over the last year and n/a over 5 years.
Is WBD a good diversifier for AIRE?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
A reading of 0.46 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AIRE correlations · WBD correlations
