PAX vs STRT: Correlation
How closely do Patria Investments Limited - Class A (PAX) and STRATTEC SECURITY CORPORATION (STRT) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAX and STRT?
Over the past 3 years, PAX and STRT moved with a correlation of 0.38, which is moderate. The past 12 months show a weaker link (0.22) than the 3-year average (0.38). Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 619.3 %².
Within PAX's tracked universe of 17 assets, STRT comes in at #11 by 3-year correlation. On 12-month performance STRT holds a 14.0-point edge, -8.8% against +5.2%. One caveat on sizing: STRT is 1.9 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.
PAX vs STRT: side by side
| PAX (Patria Investments Limited - Class A) | STRT (STRATTEC SECURITY CORPORATION) | |
|---|---|---|
| 1-year return | -8.8% | +5.2% |
| 5-year return | -3.0% | +89.4% |
| Volatility (ann.) | 28.8% | 56.1% |
| Beta vs S&P 500 | 0.98 | 1.15 |
| Max drawdown (3Y) | -37.7% | -36.8% |
| Market cap | $1.9B | $0.3B |
| P/E (trailing) | 25.9 | 14.6 |
| Dividend yield | 5.28% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAX | STRT |
|---|---|---|
| 2022 | -9.9% | -44.5% |
| 2023 | +18.9% | +23.3% |
| 2024 | -20.0% | +62.6% |
| 2025 | +43.1% | +84.8% |
| 2026 | -23.7% | -7.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAX and STRT good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PAX and STRT?
The PAX/STRT correlation stands at 0.38 on a 3-year window (1 year: 0.22, 5 years: 0.32), computed from weekly returns as of 2026-08-27.
Is STRT a good diversifier for PAX?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pax-vs-strt/)
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Related comparisons
Hubs: PAX correlations · STRT correlations
