AIRG vs CFG: Correlation
Measured on weekly returns over the past three years, Airgain, Inc. (AIRG) and Citizens Financial Group (CFG) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRG and CFG?
Across a 3-year window, the weekly returns of AIRG and CFG correlate at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.33 lands near the 3-year figure. Stretching to 5 years gives 0.40, with an annualized covariance of 938.7 %².
In AIRG's tracked universe of 11 assets, CFG sits right near the top at #2. The trailing year gives CFG the advantage: +25.8% versus +39.3%, a 13.5-point spread. Note the risk asymmetry: AIRG runs 2.3 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.
AIRG vs CFG: side by side
| AIRG (Airgain, Inc.) | CFG (Citizens Financial Group) | |
|---|---|---|
| 1-year return | +25.8% | +39.3% |
| 5-year return | -63.5% | +98.3% |
| Volatility (ann.) | 72.0% | 31.0% |
| Beta vs S&P 500 | 1.03 | 1.16 |
| Max drawdown (3Y) | -70.2% | -29.1% |
| Market cap | $0.1B | $29.6B |
| P/E (trailing) | – | 15.4 |
| Dividend yield | 0.00% | 2.55% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | AIRG | CFG |
|---|---|---|
| 2022 | -38.8% | -13.4% |
| 2023 | -45.3% | -11.0% |
| 2024 | +98.3% | +38.0% |
| 2025 | -42.5% | +38.6% |
| 2026 | +29.6% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRG and CFG good diversifiers for each other?
Reasonably. At 0.42, AIRG and CFG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AIRG and CFG?
As of 2026-08-27, the correlation of weekly returns between AIRG and CFG is 0.42 over 3 years, 0.33 over 1 year and 0.40 over 5 years.
Is CFG a good diversifier for AIRG?
Reasonably. At 0.42, AIRG and CFG keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/airg-vs-cfg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/airg-vs-cfg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AIRG correlations · CFG correlations
