BRN vs UAL: Correlation
How closely do Barnwell Industries, Inc. (BRN) and United Airlines Holdings (UAL) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BRN and UAL?
Across a 3-year window, the weekly returns of BRN and UAL correlate at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.25 over 1 year against -0.22 over 3. Stretching to 5 years gives -0.11, with an annualized covariance of -546.8 %².
Among the 35 assets we track against BRN, UAL ranks #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with UAL ahead by 26.9 points (-19.1% versus +7.8%).
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.
BRN vs UAL: side by side
| BRN (Barnwell Industries, Inc.) | UAL (United Airlines Holdings) | |
|---|---|---|
| 1-year return | -19.1% | +7.8% |
| 5-year return | -58.9% | +144.8% |
| Volatility (ann.) | 53.1% | 46.6% |
| Beta vs S&P 500 | -0.22 | 1.33 |
| Max drawdown (3Y) | -68.5% | -49.2% |
| Market cap | – | $36.5B |
| P/E (trailing) | – | 10.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | BRN | UAL |
|---|---|---|
| 2022 | +2.8% | -13.9% |
| 2023 | -16.5% | +9.4% |
| 2024 | -37.9% | +135.3% |
| 2025 | -26.5% | +15.2% |
| 2026 | -14.0% | +0.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BRN and UAL good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BRN and UAL?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.25 over the last year and -0.11 over 5 years.
Is UAL a good diversifier for BRN?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/brn-vs-ual.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/brn-vs-ual/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BRN correlations · UAL correlations
