AIRI vs TBN: Correlation
How closely do Air Industries Group (AIRI) and Tamboran Resources Corporation (TBN) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRI and TBN?
Across a 3-year window, the weekly returns of AIRI and TBN correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.19). Stretching to 5 years gives n/a, with an annualized covariance of -639.6 %².
Out of 11 assets tracked against AIRI, TBN lands near the bottom at #10. Correlation aside, the last 12 months split them widely, with TBN ahead by 104.7 points (-18.0% versus +86.7%).
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 TBN: side by side
| AIRI (Air Industries Group) | TBN (Tamboran Resources Corporation) | |
|---|---|---|
| 1-year return | -18.0% | +86.7% |
| 5-year return | -78.6% | n/a |
| Volatility (ann.) | 64.8% | 52.6% |
| Beta vs S&P 500 | 0.80 | -0.08 |
| Max drawdown (3Y) | -69.2% | -38.6% |
| Market cap | – | $1.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRI | TBN |
|---|---|---|
| 2022 | -53.3% | – |
| 2023 | -23.5% | – |
| 2024 | +25.2% | – |
| 2025 | -24.6% | +29.7% |
| 2026 | -15.6% | +38.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRI and TBN good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AIRI and TBN?
As of 2026-08-27, the correlation of weekly returns between AIRI and TBN is -0.19 over 3 years, -0.04 over 1 year and n/a over 5 years.
Is TBN a good diversifier for AIRI?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AIRI correlations · TBN correlations
