AIRJ vs HYFM: Correlation
How closely do AirJoule Technologies Corporation (AIRJ) and Hydrofarm Holdings Group, Inc. (HYFM) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRJ and HYFM?
Across a 3-year window, the weekly returns of AIRJ and HYFM correlate at 0.37, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.52 versus 0.37 over 3 years. Stretching to 5 years gives 0.33, with an annualized covariance of 3649.7 %².
In AIRJ's tracked universe of 13 assets, HYFM sits right near the top at #1. The last year tells two different stories: AIRJ led by 78.9 percentage points, -1.6% for AIRJ against -80.5% for HYFM. One caveat on sizing: HYFM is 2.2 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.
AIRJ vs HYFM: side by side
| AIRJ (AirJoule Technologies Corporation) | HYFM (Hydrofarm Holdings Group, Inc.) | |
|---|---|---|
| 1-year return | -1.6% | -80.5% |
| 5-year return | -51.6% | -99.8% |
| Volatility (ann.) | 67.0% | 148.0% |
| Beta vs S&P 500 | 0.94 | 2.71 |
| Max drawdown (3Y) | -91.4% | -96.6% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRJ | HYFM |
|---|---|---|
| 2022 | – | -94.5% |
| 2023 | +6.7% | -40.8% |
| 2024 | -25.8% | -36.8% |
| 2025 | -50.5% | -74.0% |
| 2026 | +21.6% | -41.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRJ and HYFM good diversifiers for each other?
Reasonably. At 0.37, AIRJ and HYFM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AIRJ and HYFM?
As of 2026-08-27, the correlation of weekly returns between AIRJ and HYFM is 0.37 over 3 years, 0.52 over 1 year and 0.33 over 5 years.
Is HYFM a good diversifier for AIRJ?
Reasonably. At 0.37, AIRJ and HYFM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 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/airj-vs-hyfm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/airj-vs-hyfm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIRJ correlations · HYFM correlations
