CARR vs RCON: Correlation
Measured on weekly returns over the past three years, Carrier Global (CARR) and Recon Technology, Ltd. - Class A (RCON) carry a correlation of -0.17, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CARR and RCON?
On 3 years of weekly data the CARR/RCON correlation comes out at -0.17, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.29) runs below the 3-year figure (-0.17). The 5-year figure is -0.13, and annualized covariance runs at -75198.1 %².
Among the 29 assets we track against CARR, RCON ranks #22 by 3-year correlation. Over the last 12 months CARR came out ahead by 11.0 percentage points (-11.6% against -22.6%). One caveat on sizing: RCON is 421.1 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.
CARR vs RCON: side by side
| CARR (Carrier Global) | RCON (Recon Technology, Ltd. - Class A) | |
|---|---|---|
| 1-year return | -11.6% | -22.6% |
| 5-year return | +8.8% | -97.1% |
| Volatility (ann.) | 32.6% | 13728.9% |
| Beta vs S&P 500 | 1.21 | 22.04 |
| Max drawdown (3Y) | -38.1% | -100.0% |
| Market cap | $48.5B | – |
| P/E (trailing) | 42.0 | – |
| Dividend yield | 1.61% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | CARR | RCON |
|---|---|---|
| 2022 | -22.7% | -3.8% |
| 2023 | +41.5% | -81.7% |
| 2024 | +20.3% | -49.5% |
| 2025 | -21.8% | -24.4% |
| 2026 | +12.6% | +10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CARR and RCON good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between CARR and RCON?
As of 2026-08-27, the correlation of weekly returns between CARR and RCON is -0.17 over 3 years, -0.29 over 1 year and -0.13 over 5 years.
Is RCON a good diversifier for CARR?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/carr-vs-rcon.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/carr-vs-rcon/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CARR correlations · RCON correlations
