AIRI vs MGLD: Correlation
Air Industries Group (AIRI) and The Marygold Companies, Inc. (MGLD) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRI and MGLD?
On 3 years of weekly data the AIRI/MGLD correlation comes out at 0.31, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.06 versus 0.31 over 3 years. The 5-year figure is 0.23, and annualized covariance runs at 1548.9 %².
Among the 11 assets we track against AIRI, MGLD ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with MGLD ahead by 26.7 points (-18.0% versus +8.7%).
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 MGLD: side by side
| AIRI (Air Industries Group) | MGLD (The Marygold Companies, Inc.) | |
|---|---|---|
| 1-year return | -18.0% | +8.7% |
| 5-year return | -78.6% | -70.5% |
| Volatility (ann.) | 64.8% | 77.2% |
| Beta vs S&P 500 | 0.80 | -0.28 |
| Max drawdown (3Y) | -69.2% | -66.8% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRI | MGLD |
|---|---|---|
| 2022 | -53.3% | – |
| 2023 | -23.5% | -29.3% |
| 2024 | +25.2% | +66.0% |
| 2025 | -24.6% | -49.8% |
| 2026 | -15.6% | +13.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRI and MGLD good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AIRI and MGLD?
As of 2026-08-27, the correlation of weekly returns between AIRI and MGLD is 0.31 over 3 years, 0.06 over 1 year and 0.23 over 5 years.
Is MGLD a good diversifier for AIRI?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 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-mgld.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/airi-vs-mgld/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AIRI correlations · MGLD correlations
