AIRI vs VRAX: Correlation
Measured on weekly returns over the past three years, Air Industries Group (AIRI) and Virax Biolabs Group Limited (VRAX) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRI and VRAX?
On 3 years of weekly data the AIRI/VRAX correlation comes out at 0.41, moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 4179.8 %².
In AIRI's tracked universe of 11 assets, VRAX sits right near the top at #2. The last year tells two different stories: AIRI led by 62.2 percentage points, -18.0% for AIRI against -80.2% for VRAX. One caveat on sizing: VRAX is 2.4 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 VRAX: side by side
| AIRI (Air Industries Group) | VRAX (Virax Biolabs Group Limited) | |
|---|---|---|
| 1-year return | -18.0% | -80.2% |
| 5-year return | -78.6% | n/a |
| Volatility (ann.) | 64.8% | 158.1% |
| Beta vs S&P 500 | 0.80 | 2.55 |
| Max drawdown (3Y) | -69.2% | -98.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRI | VRAX |
|---|---|---|
| 2022 | -53.3% | – |
| 2023 | -23.5% | -80.0% |
| 2024 | +25.2% | +54.1% |
| 2025 | -24.6% | -84.6% |
| 2026 | -15.6% | -66.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRI and VRAX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AIRI and VRAX?
As of 2026-08-27, the correlation of weekly returns between AIRI and VRAX is 0.41 over 3 years, 0.31 over 1 year and 0.34 over 5 years.
Is VRAX a good diversifier for AIRI?
Yes, to a useful degree: a correlation of 0.41 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/airi-vs-vrax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/airi-vs-vrax/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AIRI correlations · VRAX correlations
