AIRG vs ATGL: Correlation
How closely do Airgain, Inc. (AIRG) and Alpha Technology Group Limited - Class A (ATGL) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRG and ATGL?
Across a 3-year window, the weekly returns of AIRG and ATGL correlate at 0.35, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.35 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 6468.0 %².
By 3-year correlation, ATGL places #6 of the 11 assets tracked against AIRG. Correlation aside, the last 12 months split them widely, with AIRG ahead by 101.8 points (+25.8% versus -76.0%). One caveat on sizing: ATGL is 3.5 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.
AIRG vs ATGL: side by side
| AIRG (Airgain, Inc.) | ATGL (Alpha Technology Group Limited - Class A) | |
|---|---|---|
| 1-year return | +25.8% | -76.0% |
| 5-year return | -63.5% | n/a |
| Volatility (ann.) | 72.0% | 253.1% |
| Beta vs S&P 500 | 1.03 | 0.71 |
| Max drawdown (3Y) | -70.2% | -95.9% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRG | ATGL |
|---|---|---|
| 2022 | -38.8% | – |
| 2023 | -45.3% | – |
| 2024 | +98.3% | +11.3% |
| 2025 | -42.5% | +48.0% |
| 2026 | +29.6% | -65.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRG and ATGL good diversifiers for each other?
Reasonably. At 0.35, AIRG and ATGL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AIRG and ATGL?
As of 2026-08-27, the correlation of weekly returns between AIRG and ATGL is 0.35 over 3 years, 0.23 over 1 year and n/a over 5 years.
Is ATGL a good diversifier for AIRG?
Reasonably. At 0.35, AIRG and ATGL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 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/airg-vs-atgl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/airg-vs-atgl/)
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Related comparisons
Hubs: AIRG correlations · ATGL correlations
