AISP vs HDSN: Correlation
Airship AI Holdings, Inc (AISP) and Hudson Technologies, Inc. (HDSN) 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 AISP and HDSN?
Over the past 3 years, AISP and HDSN 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 (0.20) than the 3-year average (-0.24). Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -2289.0 %².
Among the 29 assets we track against AISP, HDSN ranks #24 by 3-year correlation. The trailing year gives HDSN the advantage: -53.0% versus -46.5%, a 6.5-point spread. One caveat on sizing: AISP is 5.6 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.
AISP vs HDSN: side by side
| AISP (Airship AI Holdings, Inc) | HDSN (Hudson Technologies, Inc.) | |
|---|---|---|
| 1-year return | -53.0% | -46.5% |
| 5-year return | -77.4% | +68.6% |
| Volatility (ann.) | 233.1% | 41.6% |
| Beta vs S&P 500 | 1.24 | 0.74 |
| Max drawdown (3Y) | -87.4% | -67.6% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | 3.2 | 24.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AISP | HDSN |
|---|---|---|
| 2022 | +3.0% | +127.9% |
| 2023 | -83.1% | +33.3% |
| 2024 | +268.2% | -58.6% |
| 2025 | -53.8% | +22.8% |
| 2026 | -24.6% | -20.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AISP and HDSN good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between AISP and HDSN?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with 0.20 over the last year and -0.15 over 5 years.
Is HDSN a good diversifier for AISP?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
A reading of -0.24 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/aisp-vs-hdsn.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aisp-vs-hdsn/)
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Related comparisons
Hubs: AISP correlations · HDSN correlations
