RDW vs RKLB: Correlation
How closely do Redwire Corporation (RDW) and Rocket Lab Corporation (RKLB) trade together? Their weekly returns over three years give a correlation of 0.60, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RDW and RKLB?
Over the past 3 years, RDW and RKLB moved with a correlation of 0.60, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.71 versus 0.60 over 3 years. Over 5 years the correlation is 0.54, and the annualized covariance of weekly returns is 5182.0 %².
RKLB is one of the assets that tracks RDW most closely: it ranks #1 out of the 13 assets we track against RDW. Their recent paths diverged sharply: over the last 12 months RKLB outperformed by 20.6 percentage points (+25.4% for RDW against +46.0% for RKLB).
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.
RDW vs RKLB: side by side
| RDW (Redwire Corporation) | RKLB (Rocket Lab Corporation) | |
|---|---|---|
| 1-year return | +25.4% | +46.0% |
| 5-year return | +12.9% | +573.3% |
| Volatility (ann.) | 101.5% | 85.6% |
| Beta vs S&P 500 | 3.01 | 2.58 |
| Max drawdown (3Y) | -80.3% | -61.0% |
| Market cap | $2.8B | $43.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RDW | RKLB |
|---|---|---|
| 2022 | -70.7% | -69.3% |
| 2023 | +43.9% | +46.7% |
| 2024 | +477.5% | +360.6% |
| 2025 | -53.8% | +173.9% |
| 2026 | +48.3% | -3.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RDW and RKLB good diversifiers for each other?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between RDW and RKLB?
As of 2026-08-27, the correlation of weekly returns between RDW and RKLB is 0.60 over 3 years, 0.71 over 1 year and 0.54 over 5 years.
Is RKLB a good diversifier for RDW?
Somewhat, no more. With 0.60 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.60 mean?
On the −1 to +1 scale, 0.60 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/rdw-vs-rklb.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rdw-vs-rklb/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RDW correlations · RKLB correlations
