API vs PW: Correlation
Measured on weekly returns over the past three years, Agora, Inc. (API) and Power REIT (MD) (PW) carry a correlation of 0.30, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are API and PW?
On 3 years of weekly data the API/PW correlation comes out at 0.30, moderate. Little has changed lately, as the 1-year reading of 0.26 lands near the 3-year figure. The 5-year figure is 0.26, and annualized covariance runs at 3525.8 %².
By 3-year correlation, PW places #9 of the 14 assets tracked against API. Correlation aside, the last 12 months split them widely, with API ahead by 68.5 points (+15.7% versus -52.8%).
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 PW: side by side
| API (Agora, Inc.) | PW (Power REIT (MD)) | |
|---|---|---|
| 1-year return | +15.7% | -52.8% |
| 5-year return | -86.7% | -98.2% |
| Volatility (ann.) | 96.1% | 123.7% |
| Beta vs S&P 500 | 1.90 | 0.51 |
| Max drawdown (3Y) | -60.8% | -79.8% |
| Market cap | $0.3B | – |
| P/E (trailing) | 45.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | API | PW |
|---|---|---|
| 2022 | -75.9% | -94.3% |
| 2023 | -32.7% | -83.5% |
| 2024 | +58.2% | +104.6% |
| 2025 | -2.2% | -33.8% |
| 2026 | -0.2% | -12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are API and PW good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between API and PW?
As of 2026-08-27, the correlation of weekly returns between API and PW is 0.30 over 3 years, 0.26 over 1 year and 0.26 over 5 years.
Is PW a good diversifier for API?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 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/api-vs-pw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/api-vs-pw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: API correlations · PW correlations
