PFX vs RFAI: Correlation
How closely do PhenixFIN Corporation (PFX) and RF Acquisition Corp II (RFAI) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PFX and RFAI?
On 3 years of weekly data the PFX/RFAI correlation comes out at 0.33, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.33 over 3. The 5-year figure is n/a, and annualized covariance runs at 2349.8 %².
RFAI is one of the assets that tracks PFX most closely: it ranks #2 out of the 18 assets we track against PFX. Their recent paths diverged sharply: over the last 12 months RFAI outperformed by 381.6 percentage points (+7.9% for PFX against +389.5% for RFAI). One caveat on sizing: RFAI is 12.6 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.
PFX vs RFAI: side by side
| PFX (PhenixFIN Corporation) | RFAI (RF Acquisition Corp II) | |
|---|---|---|
| 1-year return | +7.9% | +389.5% |
| 5-year return | +36.0% | n/a |
| Volatility (ann.) | 22.8% | 288.3% |
| Beta vs S&P 500 | 0.08 | -1.62 |
| Max drawdown (3Y) | -29.6% | -16.5% |
| Market cap | $0.1B | $0.4B |
| P/E (trailing) | 22.7 | 399.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PFX | RFAI |
|---|---|---|
| 2022 | -25.5% | – |
| 2023 | +36.1% | – |
| 2024 | +23.3% | – |
| 2025 | -10.1% | +5.2% |
| 2026 | +19.6% | +383.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PFX and RFAI good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PFX and RFAI?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.36 over the last year and n/a over 5 years.
Is RFAI a good diversifier for PFX?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 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/pfx-vs-rfai.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pfx-vs-rfai/)
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Related comparisons
Hubs: PFX correlations · RFAI correlations
