API vs AVNW: Correlation
How closely do Agora, Inc. (API) and Aviat Networks, Inc. (AVNW) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are API and AVNW?
On 3 years of weekly data the API/AVNW correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.16 lands near the 3-year figure. The 5-year figure is -0.17, and annualized covariance runs at -1268.4 %².
Among the 14 assets we track against API, AVNW sits near the bottom by co-movement, at rank #12. The last year tells two different stories: API led by 22.3 percentage points, +15.7% for API against -6.6% for AVNW. Note the risk asymmetry: API runs 1.9 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.
API vs AVNW: side by side
| API (Agora, Inc.) | AVNW (Aviat Networks, Inc.) | |
|---|---|---|
| 1-year return | +15.7% | -6.6% |
| 5-year return | -86.7% | -39.7% |
| Volatility (ann.) | 96.1% | 50.7% |
| Beta vs S&P 500 | 1.90 | 0.79 |
| Max drawdown (3Y) | -60.8% | -64.3% |
| Market cap | $0.3B | $0.3B |
| P/E (trailing) | 45.1 | 31.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | API | AVNW |
|---|---|---|
| 2022 | -75.9% | -2.8% |
| 2023 | -32.7% | +4.7% |
| 2024 | +58.2% | -44.5% |
| 2025 | -2.2% | +18.1% |
| 2026 | -0.2% | +0.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are API and AVNW good diversifiers for each other?
Yes. With a correlation of -0.26, API and AVNW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between API and AVNW?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.16 over the last year and -0.17 over 5 years.
Is AVNW a good diversifier for API?
Yes. With a correlation of -0.26, API and AVNW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
A reading of -0.26 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/api-vs-avnw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/api-vs-avnw/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: API correlations · AVNW correlations
