AIRG vs RENX: Correlation
How closely do Airgain, Inc. (AIRG) and RenX Enterprises Corp. (RENX) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRG and RENX?
Across a 3-year window, the weekly returns of AIRG and RENX correlate at 0.44, moderate. The link has loosened recently: the 1-year correlation (-0.11) runs below the 3-year figure (0.44). Stretching to 5 years gives n/a, with an annualized covariance of 10327.3 %².
In AIRG's tracked universe of 11 assets, RENX sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months AIRG outperformed by 116.8 percentage points (+25.8% for AIRG against -91.0% for RENX). One caveat on sizing: RENX is 4.5 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 RENX: side by side
| AIRG (Airgain, Inc.) | RENX (RenX Enterprises Corp.) | |
|---|---|---|
| 1-year return | +25.8% | -91.0% |
| 5-year return | -63.5% | n/a |
| Volatility (ann.) | 72.0% | 322.0% |
| Beta vs S&P 500 | 1.03 | 1.58 |
| Max drawdown (3Y) | -70.2% | -99.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRG | RENX |
|---|---|---|
| 2022 | -38.8% | – |
| 2023 | -45.3% | – |
| 2024 | +98.3% | -90.5% |
| 2025 | -42.5% | -92.5% |
| 2026 | +29.6% | -46.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRG and RENX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AIRG and RENX?
As of 2026-08-27, the correlation of weekly returns between AIRG and RENX is 0.44 over 3 years, -0.11 over 1 year and n/a over 5 years.
Is RENX a good diversifier for AIRG?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 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: AIRG correlations · RENX correlations
