AIRT vs RENX: Correlation
Air T, Inc. (AIRT) and RenX Enterprises Corp. (RENX) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRT and RENX?
Over the past 3 years, AIRT and RENX moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.07) than the 3-year average (-0.24). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -3967.5 %².
RENX is close to the least connected end of AIRT's tracked universe, ranking #12 of 12. The last year tells two different stories: AIRT led by 132.2 percentage points, +41.2% for AIRT against -91.0% for RENX. Note the risk asymmetry: RENX runs 6.3 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 RENX: side by side
| AIRT (Air T, Inc.) | RENX (RenX Enterprises Corp.) | |
|---|---|---|
| 1-year return | +41.2% | -91.0% |
| 5-year return | -4.1% | n/a |
| Volatility (ann.) | 51.1% | 322.0% |
| Beta vs S&P 500 | 0.05 | 1.58 |
| Max drawdown (3Y) | -49.3% | -99.9% |
| 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 | RENX |
|---|---|---|
| 2022 | -1.7% | – |
| 2023 | -31.6% | – |
| 2024 | +18.0% | -90.5% |
| 2025 | -4.3% | -92.5% |
| 2026 | +70.8% | -46.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRT and RENX good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AIRT and RENX?
As of 2026-08-27, the correlation of weekly returns between AIRT and RENX is -0.24 over 3 years, 0.07 over 1 year and n/a over 5 years.
Is RENX a good diversifier for AIRT?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 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/airt-vs-renx.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AIRT correlations · RENX correlations
