AIRI vs INM: Correlation
How closely do Air Industries Group (AIRI) and InMed Pharmaceuticals Inc. (INM) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRI and INM?
On 3 years of weekly data the AIRI/INM correlation comes out at 0.47, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.47 over 3. The 5-year figure is 0.38, and annualized covariance runs at 5147.2 %².
In AIRI's tracked universe of 11 assets, INM sits right near the top at #1. The last year tells two different stories: AIRI led by 18.4 percentage points, -18.0% for AIRI against -36.4% for INM. One caveat on sizing: INM is 2.6 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.
AIRI vs INM: side by side
| AIRI (Air Industries Group) | INM (InMed Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | -18.0% | -36.4% |
| 5-year return | -78.6% | -99.9% |
| Volatility (ann.) | 64.8% | 169.8% |
| Beta vs S&P 500 | 0.80 | 2.62 |
| Max drawdown (3Y) | -69.2% | -96.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRI | INM |
|---|---|---|
| 2022 | -53.3% | -93.8% |
| 2023 | -23.5% | -79.4% |
| 2024 | +25.2% | -43.0% |
| 2025 | -24.6% | -77.6% |
| 2026 | -15.6% | +34.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRI and INM good diversifiers for each other?
Reasonably. At 0.47, AIRI and INM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AIRI and INM?
As of 2026-08-27, the correlation of weekly returns between AIRI and INM is 0.47 over 3 years, 0.49 over 1 year and 0.38 over 5 years.
Is INM a good diversifier for AIRI?
Reasonably. At 0.47, AIRI and INM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 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/airi-vs-inm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/airi-vs-inm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AIRI correlations · INM correlations
