GDHG vs RJET: Correlation
How closely do Golden Heaven Group Holdings Ltd. - Class A (GDHG) and Republic Airways Holdings Inc. (RJET) 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 GDHG and RJET?
Across a 3-year window, the weekly returns of GDHG and RJET correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.06) than the 3-year average (-0.22). Stretching to 5 years gives n/a, with an annualized covariance of -3961.1 %².
Out of 13 assets tracked against GDHG, RJET lands near the bottom at #9. Correlation aside, the last 12 months split them widely, with RJET ahead by 77.9 points (-77.4% versus +0.5%). Note the risk asymmetry: GDHG runs 2.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
GDHG vs RJET: side by side
| GDHG (Golden Heaven Group Holdings Ltd. - Class A) | RJET (Republic Airways Holdings Inc.) | |
|---|---|---|
| 1-year return | -77.4% | +0.5% |
| 5-year return | n/a | -84.5% |
| Volatility (ann.) | 203.3% | 89.1% |
| Beta vs S&P 500 | 1.20 | 1.76 |
| Max drawdown (3Y) | -100.0% | -70.7% |
| Market cap | – | $0.9B |
| P/E (trailing) | 0.0 | 12.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GDHG | RJET |
|---|---|---|
| 2022 | – | -72.7% |
| 2023 | – | -34.0% |
| 2024 | -93.7% | +14.9% |
| 2025 | -99.8% | +5.6% |
| 2026 | -31.8% | +0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GDHG and RJET good diversifiers for each other?
Yes. With a correlation of -0.22, GDHG and RJET have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GDHG and RJET?
The GDHG/RJET correlation stands at -0.22 on a 3-year window (1 year: 0.06, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RJET a good diversifier for GDHG?
Yes. With a correlation of -0.22, GDHG and RJET have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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/gdhg-vs-rjet.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gdhg-vs-rjet/)
No key needed, free to use. Full endpoint list in the API documentation.
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Hubs: GDHG correlations · RJET correlations
