RFIL vs XAIR: Correlation
How closely do RF Industries, Ltd. (RFIL) and Beyond Air, Inc. (XAIR) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RFIL and XAIR?
On 3 years of weekly data the RFIL/XAIR correlation comes out at 0.42, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.64 versus 0.42 over 3 years. The 5-year figure is 0.33, and annualized covariance runs at 3011.2 %².
Within RFIL's tracked universe of 12 assets, XAIR comes in at #4 by 3-year correlation. The last year tells two different stories: RFIL led by 134.9 percentage points, +47.4% for RFIL against -87.5% for XAIR. Risk is not evenly split, since XAIR carries 1.6 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.
RFIL vs XAIR: side by side
| RFIL (RF Industries, Ltd.) | XAIR (Beyond Air, Inc.) | |
|---|---|---|
| 1-year return | +47.4% | -87.5% |
| 5-year return | +32.3% | -99.9% |
| Volatility (ann.) | 67.8% | 106.7% |
| Beta vs S&P 500 | 0.66 | 0.35 |
| Max drawdown (3Y) | -50.7% | -99.6% |
| Market cap | $0.1B | – |
| P/E (trailing) | 83.5 | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RFIL | XAIR |
|---|---|---|
| 2022 | -35.8% | -31.2% |
| 2023 | -40.9% | -69.8% |
| 2024 | +28.6% | -81.7% |
| 2025 | +47.8% | -89.9% |
| 2026 | +87.7% | -60.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RFIL and XAIR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between RFIL and XAIR?
The RFIL/XAIR correlation stands at 0.42 on a 3-year window (1 year: 0.64, 5 years: 0.33), computed from weekly returns as of 2026-08-27.
Is XAIR a good diversifier for RFIL?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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/rfil-vs-xair.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rfil-vs-xair/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: RFIL correlations · XAIR correlations
