AIRT vs TWG: Correlation
How closely do Air T, Inc. (AIRT) and Top Wealth Group Holding Limited - Class A (TWG) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIRT and TWG?
On 3 years of weekly data the AIRT/TWG correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.10) than the 3-year average (-0.22). The 5-year figure is n/a, and annualized covariance runs at -2858.8 %².
Out of 12 assets tracked against AIRT, TWG lands near the bottom at #10. The last year tells two different stories: AIRT led by 130.8 percentage points, +41.2% for AIRT against -89.6% for TWG. One caveat on sizing: TWG is 4.9 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 TWG: side by side
| AIRT (Air T, Inc.) | TWG (Top Wealth Group Holding Limited - Class A) | |
|---|---|---|
| 1-year return | +41.2% | -89.6% |
| 5-year return | -4.1% | n/a |
| Volatility (ann.) | 51.1% | 248.4% |
| Beta vs S&P 500 | 0.05 | 0.99 |
| Max drawdown (3Y) | -49.3% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | 1.3 | 4.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIRT | TWG |
|---|---|---|
| 2022 | -1.7% | – |
| 2023 | -31.6% | – |
| 2024 | +18.0% | – |
| 2025 | -4.3% | -86.8% |
| 2026 | +70.8% | -83.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIRT and TWG good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between AIRT and TWG?
As of 2026-08-27, the correlation of weekly returns between AIRT and TWG is -0.22 over 3 years, -0.10 over 1 year and n/a over 5 years.
Is TWG a good diversifier for AIRT?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 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-twg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/airt-vs-twg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AIRT correlations · TWG correlations
