AZIO vs XAIR: Correlation
How closely do Azio AI Holdings, Inc. (AZIO) and Beyond Air, Inc. (XAIR) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZIO and XAIR?
Over the past 3 years, AZIO and XAIR moved with a correlation of 0.51, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.76 versus 0.51 over 3 years. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 22157.2 %².
Few assets follow AZIO as closely as XAIR, which ranks #2 of 18 tracked partners. Correlation aside, the last 12 months split them widely, with AZIO ahead by 44.0 points (-43.5% versus -87.5%). One caveat on sizing: AZIO is 3.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AZIO vs XAIR: side by side
| AZIO (Azio AI Holdings, Inc.) | XAIR (Beyond Air, Inc.) | |
|---|---|---|
| 1-year return | -43.5% | -87.5% |
| 5-year return | -97.5% | -99.9% |
| Volatility (ann.) | 404.0% | 106.7% |
| Beta vs S&P 500 | 1.20 | 0.35 |
| Max drawdown (3Y) | -98.8% | -99.6% |
| Market cap | – | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AZIO | XAIR |
|---|---|---|
| 2022 | -52.7% | -31.2% |
| 2023 | -36.2% | -69.8% |
| 2024 | -11.0% | -81.7% |
| 2025 | -97.0% | -89.9% |
| 2026 | +276.0% | -60.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZIO and XAIR good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AZIO and XAIR?
The AZIO/XAIR correlation stands at 0.51 on a 3-year window (1 year: 0.76, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is XAIR a good diversifier for AZIO?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 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/azio-vs-xair.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/azio-vs-xair/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AZIO correlations · XAIR correlations
