PAX vs SWAG: Correlation
How closely do Patria Investments Limited - Class A (PAX) and Stran & Company, Inc. (SWAG) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAX and SWAG?
Across a 3-year window, the weekly returns of PAX and SWAG correlate at 0.32, moderate. Little has changed lately, as the 1-year reading of 0.22 lands near the 3-year figure. Stretching to 5 years gives 0.21, with an annualized covariance of 553.3 %².
Among the 17 assets we track against PAX, SWAG sits near the bottom by co-movement, at rank #14. Over the last 12 months SWAG came out ahead by 14.4 percentage points (-8.8% against +5.6%). Risk is not evenly split, since SWAG carries 2.1 times the volatility of the other side.
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 SWAG: side by side
| PAX (Patria Investments Limited - Class A) | SWAG (Stran & Company, Inc.) | |
|---|---|---|
| 1-year return | -8.8% | +5.6% |
| 5-year return | -3.0% | -56.8% |
| Volatility (ann.) | 28.8% | 59.3% |
| Beta vs S&P 500 | 0.98 | 1.00 |
| Max drawdown (3Y) | -37.7% | -56.0% |
| Market cap | $1.9B | – |
| P/E (trailing) | 25.9 | 171.0 |
| Dividend yield | 5.28% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAX | SWAG |
|---|---|---|
| 2022 | -9.9% | -77.9% |
| 2023 | +18.9% | +10.4% |
| 2024 | -20.0% | -39.2% |
| 2025 | +43.1% | +84.4% |
| 2026 | -23.7% | +3.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAX and SWAG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PAX and SWAG?
As of 2026-08-27, the correlation of weekly returns between PAX and SWAG is 0.32 over 3 years, 0.22 over 1 year and 0.21 over 5 years.
Is SWAG a good diversifier for PAX?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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
$ curl https://www.pairbook.io/api/v1/pairs/pax-vs-swag.json
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[](https://www.pairbook.io/pair/pax-vs-swag/)
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Related comparisons
Hubs: PAX correlations · SWAG correlations
