RFAI vs THCH: Correlation
Measured on weekly returns over the past three years, RF Acquisition Corp II (RFAI) and TH International Limited (THCH) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RFAI and THCH?
On 3 years of weekly data the RFAI/THCH correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.44) than the 3-year average (-0.25). The 5-year figure is n/a, and annualized covariance runs at -4929.7 %².
Among the 65 assets we track against RFAI, THCH ranks #44 by 3-year correlation. The last year tells two different stories: RFAI led by 438.1 percentage points, +389.5% for RFAI against -48.6% for THCH. Note the risk asymmetry: RFAI runs 4.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
RFAI vs THCH: side by side
| RFAI (RF Acquisition Corp II) | THCH (TH International Limited) | |
|---|---|---|
| 1-year return | +389.5% | -48.6% |
| 5-year return | n/a | -97.4% |
| Volatility (ann.) | 288.3% | 64.2% |
| Beta vs S&P 500 | -1.62 | 0.34 |
| Max drawdown (3Y) | -16.5% | -90.7% |
| Market cap | $0.4B | – |
| P/E (trailing) | 399.9 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RFAI | THCH |
|---|---|---|
| 2022 | – | -71.7% |
| 2023 | – | -37.1% |
| 2024 | – | -59.4% |
| 2025 | +5.2% | -29.9% |
| 2026 | +383.6% | -49.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RFAI and THCH good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between RFAI and THCH?
The RFAI/THCH correlation stands at -0.25 on a 3-year window (1 year: -0.44, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is THCH a good diversifier for RFAI?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/rfai-vs-thch.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rfai-vs-thch/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RFAI correlations · THCH correlations
