HON vs RFAI: Correlation
How closely do Honeywell Technologies (HON) and RF Acquisition Corp II (RFAI) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HON and RFAI?
Over the past 3 years, HON and RFAI moved with a correlation of -0.21, 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 n/a, and the annualized covariance of weekly returns is -1565.4 %².
Out of 32 assets tracked against HON, RFAI lands near the bottom at #28. Correlation aside, the last 12 months split them widely, with RFAI ahead by 386.8 points (+2.7% versus +389.5%). Note the risk asymmetry: RFAI runs 12.4 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.
HON vs RFAI: side by side
| HON (Honeywell Technologies) | RFAI (RF Acquisition Corp II) | |
|---|---|---|
| 1-year return | +2.7% | +389.5% |
| 5-year return | +6.6% | n/a |
| Volatility (ann.) | 23.2% | 288.3% |
| Beta vs S&P 500 | 0.74 | -1.62 |
| Max drawdown (3Y) | -22.1% | -16.5% |
| Market cap | $69.9B | $0.4B |
| P/E (trailing) | 8.5 | 399.9 |
| Dividend yield | 4.26% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | HON | RFAI |
|---|---|---|
| 2022 | +4.9% | – |
| 2023 | +0.0% | – |
| 2024 | +10.0% | – |
| 2025 | -6.4% | +5.2% |
| 2026 | +9.2% | +383.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HON and RFAI good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between HON and RFAI?
The HON/RFAI correlation stands at -0.21 on a 3-year window (1 year: -0.29, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RFAI a good diversifier for HON?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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/hon-vs-rfai.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hon-vs-rfai/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HON correlations · RFAI correlations
