RDW vs VATE: Correlation
How closely do Redwire Corporation (RDW) and INNOVATE Corp. (VATE) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RDW and VATE?
Across a 3-year window, the weekly returns of RDW and VATE correlate at 0.40, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. Stretching to 5 years gives 0.35, with an annualized covariance of 4919.6 %².
VATE is close to the least connected end of RDW's tracked universe, ranking #10 of 13. Correlation aside, the last 12 months split them widely, with VATE ahead by 20.4 points (+25.4% versus +45.8%).
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 VATE: side by side
| RDW (Redwire Corporation) | VATE (INNOVATE Corp.) | |
|---|---|---|
| 1-year return | +25.4% | +45.8% |
| 5-year return | +12.9% | -79.2% |
| Volatility (ann.) | 101.5% | 122.7% |
| Beta vs S&P 500 | 3.01 | 2.14 |
| Max drawdown (3Y) | -80.3% | -81.0% |
| Market cap | $2.8B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RDW | VATE |
|---|---|---|
| 2022 | -70.7% | -49.5% |
| 2023 | +43.9% | -34.2% |
| 2024 | +477.5% | -59.8% |
| 2025 | -53.8% | -8.5% |
| 2026 | +48.3% | +71.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RDW and VATE good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between RDW and VATE?
The RDW/VATE correlation stands at 0.40 on a 3-year window (1 year: 0.36, 5 years: 0.35), computed from weekly returns as of 2026-08-27.
Is VATE a good diversifier for RDW?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 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/rdw-vs-vate.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rdw-vs-vate/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RDW correlations · VATE correlations
