AXS vs RCON: Correlation
Axis Capital Holdings Limited (AXS) and Recon Technology, Ltd. - Class A (RCON) 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 AXS and RCON?
On 3 years of weekly data the AXS/RCON correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.24 over 3 years. The 5-year figure is -0.18, and annualized covariance runs at -75904.3 %².
Out of 23 assets tracked against AXS, RCON lands near the bottom at #21. Their recent paths diverged sharply: over the last 12 months AXS outperformed by 24.1 percentage points (+1.5% for AXS against -22.6% for RCON). Note the risk asymmetry: RCON runs 596.9 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.
AXS vs RCON: side by side
| AXS (Axis Capital Holdings Limited) | RCON (Recon Technology, Ltd. - Class A) | |
|---|---|---|
| 1-year return | +1.5% | -22.6% |
| 5-year return | +118.2% | -97.1% |
| Volatility (ann.) | 23.0% | 13728.9% |
| Beta vs S&P 500 | 0.30 | 22.04 |
| Max drawdown (3Y) | -17.4% | -100.0% |
| Market cap | $7.2B | – |
| P/E (trailing) | 7.1 | – |
| Dividend yield | 1.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXS | RCON |
|---|---|---|
| 2022 | +2.6% | -3.8% |
| 2023 | +5.6% | -81.7% |
| 2024 | +63.9% | -49.5% |
| 2025 | +21.9% | -24.4% |
| 2026 | -6.7% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXS and RCON good diversifiers for each other?
Yes. With a correlation of -0.24, AXS and RCON have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AXS and RCON?
As of 2026-08-27, the correlation of weekly returns between AXS and RCON is -0.24 over 3 years, -0.39 over 1 year and -0.18 over 5 years.
Is RCON a good diversifier for AXS?
Yes. With a correlation of -0.24, AXS and RCON have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 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/axs-vs-rcon.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/axs-vs-rcon/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXS correlations · RCON correlations
