AXGN vs GOGO: Correlation
How closely do Axogen, Inc. (AXGN) and Gogo Inc. (GOGO) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXGN and GOGO?
Over the past 3 years, AXGN and GOGO moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.21). Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -844.5 %².
By 3-year correlation, GOGO places #8 of the 14 assets tracked against AXGN. Correlation aside, the last 12 months split them widely, with AXGN ahead by 296.2 points (+220.5% versus -75.7%).
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.
AXGN vs GOGO: side by side
| AXGN (Axogen, Inc.) | GOGO (Gogo Inc.) | |
|---|---|---|
| 1-year return | +220.5% | -75.7% |
| 5-year return | +213.9% | -80.0% |
| Volatility (ann.) | 63.3% | 62.7% |
| Beta vs S&P 500 | 1.11 | 1.06 |
| Max drawdown (3Y) | -53.8% | -84.5% |
| Market cap | $2.8B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXGN | GOGO |
|---|---|---|
| 2022 | +6.5% | +9.1% |
| 2023 | -31.6% | -31.4% |
| 2024 | +141.3% | -20.1% |
| 2025 | +98.6% | -42.4% |
| 2026 | +58.1% | -41.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXGN and GOGO good diversifiers for each other?
Yes. With a correlation of -0.21, AXGN and GOGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AXGN and GOGO?
As of 2026-08-27, the correlation of weekly returns between AXGN and GOGO is -0.21 over 3 years, -0.08 over 1 year and -0.06 over 5 years.
Is GOGO a good diversifier for AXGN?
Yes. With a correlation of -0.21, AXGN and GOGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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/axgn-vs-gogo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axgn-vs-gogo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AXGN correlations · GOGO correlations
