AIRG vs EWBC: Correlation
How closely do Airgain, Inc. (AIRG) and East West Bancorp, Inc. (EWBC) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRG and EWBC?
Across a 3-year window, the weekly returns of AIRG and EWBC correlate at 0.42, moderate. The link has loosened recently: the 1-year correlation (0.26) runs below the 3-year figure (0.42). Stretching to 5 years gives 0.40, with an annualized covariance of 915.4 %².
EWBC is one of the assets that tracks AIRG most closely: it ranks #3 out of the 11 assets we track against AIRG. Twelve-month performance is nearly a tie, at +25.8% for AIRG and +25.0% for EWBC. Note the risk asymmetry: AIRG runs 2.4 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 EWBC: side by side
| AIRG (Airgain, Inc.) | EWBC (East West Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +25.8% | +25.0% |
| 5-year return | -63.5% | +103.5% |
| Volatility (ann.) | 72.0% | 30.2% |
| Beta vs S&P 500 | 1.03 | 1.03 |
| Max drawdown (3Y) | -70.2% | -35.8% |
| Market cap | $0.1B | $17.8B |
| P/E (trailing) | – | 12.5 |
| Dividend yield | 0.00% | 2.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRG | EWBC |
|---|---|---|
| 2022 | -38.8% | -14.4% |
| 2023 | -45.3% | +12.8% |
| 2024 | +98.3% | +36.8% |
| 2025 | -42.5% | +20.3% |
| 2026 | +29.6% | +17.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRG and EWBC good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AIRG and EWBC?
As of 2026-08-27, the correlation of weekly returns between AIRG and EWBC is 0.42 over 3 years, 0.26 over 1 year and 0.40 over 5 years.
Is EWBC a good diversifier for AIRG?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 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-ewbc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/airg-vs-ewbc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIRG correlations · EWBC correlations
