MF vs UAVS: Correlation
Measured on weekly returns over the past three years, MindForge Inc. - Class A (MF) and AgEagle Aerial Systems, Inc. (UAVS) carry a correlation of 0.61, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MF and UAVS?
On 3 years of weekly data the MF/UAVS correlation comes out at 0.61, strong. The past 12 months show a weaker link (0.02) than the 3-year average (0.61). The 5-year figure is n/a, and annualized covariance runs at 78943.7 %².
Within MF's tracked universe of 23 assets, UAVS comes in at #5 by 3-year correlation. The last year tells two different stories: UAVS led by 29.3 percentage points, -71.6% for MF against -42.3% for UAVS. One caveat on sizing: MF is 5.7 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.
MF vs UAVS: side by side
| MF (MindForge Inc. - Class A) | UAVS (AgEagle Aerial Systems, Inc.) | |
|---|---|---|
| 1-year return | -71.6% | -42.3% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 830.3% | 145.0% |
| Beta vs S&P 500 | 3.38 | 2.34 |
| Max drawdown (3Y) | -99.7% | -99.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MF | UAVS |
|---|---|---|
| 2022 | – | -77.7% |
| 2023 | – | -71.4% |
| 2024 | – | -96.5% |
| 2025 | -40.7% | -76.7% |
| 2026 | -62.4% | +38.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MF and UAVS good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between MF and UAVS?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.02 over the last year and n/a over 5 years.
Is UAVS a good diversifier for MF?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 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/mf-vs-uavs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mf-vs-uavs/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MF correlations · UAVS correlations
