BRLS vs RFIL: Correlation
How closely do Borealis Foods Inc. - Class A (BRLS) and RF Industries, Ltd. (RFIL) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRLS and RFIL?
Over the past 3 years, BRLS and RFIL moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -2010.5 %².
Within BRLS's tracked universe of 21 assets, RFIL comes in at #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RFIL outperformed by 109.1 percentage points (-61.7% for BRLS against +47.4% for RFIL). Risk is not evenly split, since BRLS carries 2.4 times the volatility of the other side.
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.
BRLS vs RFIL: side by side
| BRLS (Borealis Foods Inc. - Class A) | RFIL (RF Industries, Ltd.) | |
|---|---|---|
| 1-year return | -61.7% | +47.4% |
| 5-year return | -88.7% | +32.3% |
| Volatility (ann.) | 160.0% | 67.8% |
| Beta vs S&P 500 | -0.09 | 0.66 |
| Max drawdown (3Y) | -94.8% | -50.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 83.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BRLS | RFIL |
|---|---|---|
| 2022 | +4.6% | -35.8% |
| 2023 | +9.5% | -40.9% |
| 2024 | -47.3% | +28.6% |
| 2025 | -66.5% | +47.8% |
| 2026 | -44.5% | +87.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRLS and RFIL good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BRLS and RFIL?
The BRLS/RFIL correlation stands at -0.19 on a 3-year window (1 year: -0.29, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is RFIL a good diversifier for BRLS?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 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/brls-vs-rfil.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/brls-vs-rfil/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BRLS correlations · RFIL correlations
