AIRT vs TGT: Correlation
How closely do Air T, Inc. (AIRT) and Target Corporation (TGT) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRT and TGT?
On 3 years of weekly data the AIRT/TGT correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.00) than the 3-year average (-0.17). The 5-year figure is -0.08, and annualized covariance runs at -286.1 %².
TGT is close to the least connected end of AIRT's tracked universe, ranking #8 of 12. The last year tells two different stories: TGT led by 35.0 percentage points, +41.2% for AIRT against +76.2% for TGT. One caveat on sizing: AIRT is 1.6 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.
AIRT vs TGT: side by side
| AIRT (Air T, Inc.) | TGT (Target Corporation) | |
|---|---|---|
| 1-year return | +41.2% | +76.2% |
| 5-year return | -4.1% | -22.2% |
| Volatility (ann.) | 51.1% | 32.0% |
| Beta vs S&P 500 | 0.05 | 0.62 |
| Max drawdown (3Y) | -49.3% | -49.8% |
| Market cap | $0.1B | $75.4B |
| P/E (trailing) | 1.3 | 17.2 |
| Dividend yield | 0.00% | 2.78% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | AIRT | TGT |
|---|---|---|
| 2022 | -1.7% | -34.2% |
| 2023 | -31.6% | -1.4% |
| 2024 | +18.0% | -2.3% |
| 2025 | -4.3% | -24.5% |
| 2026 | +70.8% | +74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRT and TGT good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AIRT and TGT?
As of 2026-08-27, the correlation of weekly returns between AIRT and TGT is -0.17 over 3 years, -0.00 over 1 year and -0.08 over 5 years.
Is TGT a good diversifier for AIRT?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
A reading of -0.17 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AIRT correlations · TGT correlations
