AIRI vs LUCY: Correlation
How closely do Air Industries Group (AIRI) and Innovative Eyewear, Inc. (LUCY) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRI and LUCY?
Over the past 3 years, AIRI and LUCY moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.27) than the 3-year average (-0.23). Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -3883.7 %².
Out of 11 assets tracked against AIRI, LUCY lands near the bottom at #11. Correlation aside, the last 12 months split them widely, with AIRI ahead by 33.7 points (-18.0% versus -51.7%). Risk is not evenly split, since LUCY carries 4.0 times the volatility of the other side.
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 LUCY: side by side
| AIRI (Air Industries Group) | LUCY (Innovative Eyewear, Inc.) | |
|---|---|---|
| 1-year return | -18.0% | -51.7% |
| 5-year return | -78.6% | n/a |
| Volatility (ann.) | 64.8% | 259.2% |
| Beta vs S&P 500 | 0.80 | 1.73 |
| Max drawdown (3Y) | -69.2% | -96.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRI | LUCY |
|---|---|---|
| 2022 | -53.3% | – |
| 2023 | -23.5% | -69.2% |
| 2024 | +25.2% | -41.7% |
| 2025 | -24.6% | -79.7% |
| 2026 | -15.6% | -5.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRI and LUCY good diversifiers for each other?
Yes. With a correlation of -0.23, AIRI and LUCY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AIRI and LUCY?
The AIRI/LUCY correlation stands at -0.23 on a 3-year window (1 year: 0.27, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is LUCY a good diversifier for AIRI?
Yes. With a correlation of -0.23, AIRI and LUCY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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-lucy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/airi-vs-lucy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIRI correlations · LUCY correlations
