AXIL vs UTSI: Correlation
How closely do AXIL Brands, Inc. (AXIL) and UTStarcom Holdings Corp (UTSI) 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 AXIL and UTSI?
Across a 3-year window, the weekly returns of AXIL and UTSI correlate at -0.21, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.21). Stretching to 5 years gives n/a, with an annualized covariance of -986.6 %².
Among the 12 assets we track against AXIL, UTSI sits near the bottom by co-movement, at rank #9. The trailing year gives AXIL the advantage: +2.3% versus -7.9%, a 10.2-point spread. Note the risk asymmetry: AXIL runs 2.0 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.
AXIL vs UTSI: side by side
| AXIL (AXIL Brands, Inc.) | UTSI (UTStarcom Holdings Corp) | |
|---|---|---|
| 1-year return | +2.3% | -7.9% |
| 5-year return | n/a | -54.7% |
| Volatility (ann.) | 94.8% | 48.3% |
| Beta vs S&P 500 | 0.78 | 0.72 |
| Max drawdown (3Y) | -74.3% | -48.1% |
| Market cap | – | – |
| P/E (trailing) | 18.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXIL | UTSI |
|---|---|---|
| 2022 | – | +2.0% |
| 2023 | – | -3.1% |
| 2024 | – | -15.7% |
| 2025 | +79.5% | -12.4% |
| 2026 | -8.5% | -7.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXIL and UTSI good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between AXIL and UTSI?
As of 2026-08-27, the correlation of weekly returns between AXIL and UTSI is -0.21 over 3 years, -0.39 over 1 year and n/a over 5 years.
Is UTSI a good diversifier for AXIL?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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.
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Related comparisons
Hubs: AXIL correlations · UTSI correlations
