SPWH vs XTIA: Correlation
How closely do Sportsman's Warehouse Holdings, Inc. (SPWH) and XTI Aerospace, Inc. (XTIA) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPWH and XTIA?
Over the past 3 years, SPWH and XTIA moved with a correlation of 0.39, which is moderate. The relationship has been stable: the 1-year correlation (0.38) sits close to the 3-year figure. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 4140.0 %².
XTIA is one of the assets that tracks SPWH most closely: it ranks #2 out of the 11 assets we track against SPWH. The last year tells two different stories: XTIA led by 33.1 percentage points, -58.1% for SPWH against -25.0% for XTIA. One caveat on sizing: XTIA is 1.5 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.
SPWH vs XTIA: side by side
| SPWH (Sportsman's Warehouse Holdings, Inc.) | XTIA (XTI Aerospace, Inc.) | |
|---|---|---|
| 1-year return | -58.1% | -25.0% |
| 5-year return | -93.6% | -100.0% |
| Volatility (ann.) | 83.1% | 127.5% |
| Beta vs S&P 500 | 0.37 | 0.29 |
| Max drawdown (3Y) | -82.6% | -100.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPWH | XTIA |
|---|---|---|
| 2022 | -20.3% | -96.2% |
| 2023 | -54.7% | -96.7% |
| 2024 | -37.3% | -99.2% |
| 2025 | -45.3% | -88.5% |
| 2026 | -21.9% | +11.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPWH and XTIA good diversifiers for each other?
Reasonably. At 0.39, SPWH and XTIA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPWH and XTIA?
As of 2026-08-27, the correlation of weekly returns between SPWH and XTIA is 0.39 over 3 years, 0.38 over 1 year and 0.25 over 5 years.
Is XTIA a good diversifier for SPWH?
Reasonably. At 0.39, SPWH and XTIA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/spwh-vs-xtia.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spwh-vs-xtia/)
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Related comparisons
Hubs: SPWH correlations · XTIA correlations
