LVWR vs RRGB: Correlation
Measured on weekly returns over the past three years, LiveWire Group, Inc. (LVWR) and Red Robin Gourmet Burgers, Inc. (RRGB) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LVWR and RRGB?
Over the past 3 years, LVWR and RRGB moved with a correlation of 0.45, which is moderate. The past 12 months show a weaker link (0.13) than the 3-year average (0.45). Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 8935.9 %².
Within LVWR's tracked universe of 17 assets, RRGB comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RRGB ahead by 110.6 points (-65.2% versus +45.4%). Note the risk asymmetry: LVWR runs 2.7 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.
LVWR vs RRGB: side by side
| LVWR (LiveWire Group, Inc.) | RRGB (Red Robin Gourmet Burgers, Inc.) | |
|---|---|---|
| 1-year return | -65.2% | +45.4% |
| 5-year return | -86.0% | -61.2% |
| Volatility (ann.) | 230.4% | 86.0% |
| Beta vs S&P 500 | 2.09 | 1.99 |
| Max drawdown (3Y) | -94.6% | -79.7% |
| Market cap | $0.3B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LVWR | RRGB |
|---|---|---|
| 2022 | -51.5% | -66.2% |
| 2023 | +133.2% | +123.5% |
| 2024 | -57.5% | -56.0% |
| 2025 | -8.1% | -26.2% |
| 2026 | -69.2% | +132.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LVWR and RRGB good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LVWR and RRGB?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.13 over the last year and 0.38 over 5 years.
Is RRGB a good diversifier for LVWR?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/lvwr-vs-rrgb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lvwr-vs-rrgb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LVWR correlations · RRGB correlations
