AIRT vs AVAH: Correlation
Measured on weekly returns over the past three years, Air T, Inc. (AIRT) and Aveanna Healthcare Holdings Inc. (AVAH) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRT and AVAH?
Over the past 3 years, AIRT and AVAH moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.06 versus -0.18 over 3 years. Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -668.9 %².
Among the 12 assets we track against AIRT, AVAH sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with AVAH ahead by 34.9 points (+41.2% versus +76.1%).
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 AVAH: side by side
| AIRT (Air T, Inc.) | AVAH (Aveanna Healthcare Holdings Inc.) | |
|---|---|---|
| 1-year return | +41.2% | +76.1% |
| 5-year return | -4.1% | +46.9% |
| Volatility (ann.) | 51.1% | 73.8% |
| Beta vs S&P 500 | 0.05 | 1.38 |
| Max drawdown (3Y) | -49.3% | -39.4% |
| Market cap | $0.1B | $3.0B |
| P/E (trailing) | 1.3 | 10.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRT | AVAH |
|---|---|---|
| 2022 | -1.7% | -89.5% |
| 2023 | -31.6% | +243.6% |
| 2024 | +18.0% | +70.5% |
| 2025 | -4.3% | +78.8% |
| 2026 | +70.8% | +69.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRT and AVAH good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between AIRT and AVAH?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with 0.06 over the last year and -0.05 over 5 years.
Is AVAH a good diversifier for AIRT?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
What does a correlation of -0.18 mean?
On the −1 to +1 scale, -0.18 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/airt-vs-avah.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/airt-vs-avah/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AIRT correlations · AVAH correlations
