BIRD vs IIIN: Correlation
How closely do Smartbird, Inc. (BIRD) and Insteel Industries, Inc. (IIIN) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BIRD and IIIN?
Across a 3-year window, the weekly returns of BIRD and IIIN correlate at -0.31, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.64 versus -0.31 over 3 years. Stretching to 5 years gives -0.19, with an annualized covariance of -2776.6 %².
IIIN is close to the least connected end of BIRD's tracked universe, ranking #16 of 17. The last year tells two different stories: IIIN led by 33.2 percentage points, -51.4% for BIRD against -18.2% for IIIN. One caveat on sizing: BIRD is 5.7 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.
BIRD vs IIIN: side by side
| BIRD (Smartbird, Inc.) | IIIN (Insteel Industries, Inc.) | |
|---|---|---|
| 1-year return | -51.4% | -18.2% |
| 5-year return | -99.5% | +6.5% |
| Volatility (ann.) | 225.6% | 39.5% |
| Beta vs S&P 500 | 3.94 | 0.99 |
| Max drawdown (3Y) | -92.3% | -37.0% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 16.3 |
| Dividend yield | 0.00% | 0.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIRD | IIIN |
|---|---|---|
| 2022 | -84.0% | -25.6% |
| 2023 | -49.4% | +50.0% |
| 2024 | -71.6% | -26.8% |
| 2025 | -41.2% | +21.5% |
| 2026 | -22.7% | -3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIRD and IIIN good diversifiers for each other?
Yes. With a correlation of -0.31, BIRD and IIIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BIRD and IIIN?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.64 over the last year and -0.19 over 5 years.
Is IIIN a good diversifier for BIRD?
Yes. With a correlation of -0.31, BIRD and IIIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 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/bird-vs-iiin.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bird-vs-iiin/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BIRD correlations · IIIN correlations
