AIRT vs ALGS: Correlation
How closely do Air T, Inc. (AIRT) and Aligos Therapeutics, Inc. (ALGS) trade together? Their weekly returns over three years give a correlation of 0.26, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRT and ALGS?
Across a 3-year window, the weekly returns of AIRT and ALGS correlate at 0.26, weak. The link has loosened recently: the 1-year correlation (0.06) runs below the 3-year figure (0.26). Stretching to 5 years gives 0.14, with an annualized covariance of 1521.8 %².
Few assets follow AIRT as closely as ALGS, which ranks #3 of 12 tracked partners. The last year tells two different stories: AIRT led by 78.8 percentage points, +41.2% for AIRT against -37.6% for ALGS. Note the risk asymmetry: ALGS runs 2.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AIRT vs ALGS: side by side
| AIRT (Air T, Inc.) | ALGS (Aligos Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +41.2% | -37.6% |
| 5-year return | -4.1% | -98.3% |
| Volatility (ann.) | 51.1% | 114.1% |
| Beta vs S&P 500 | 0.05 | 1.68 |
| Max drawdown (3Y) | -49.3% | -91.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | 1.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRT | ALGS |
|---|---|---|
| 2022 | -1.7% | -92.0% |
| 2023 | -31.6% | -30.3% |
| 2024 | +18.0% | +140.0% |
| 2025 | -4.3% | -76.6% |
| 2026 | +70.8% | -24.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRT and ALGS good diversifiers for each other?
Reasonably. At 0.26, AIRT and ALGS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AIRT and ALGS?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.06 over the last year and 0.14 over 5 years.
Is ALGS a good diversifier for AIRT?
Reasonably. At 0.26, AIRT and ALGS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/airt-vs-algs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/airt-vs-algs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AIRT correlations · ALGS correlations
