SRFM vs WKHS: Correlation
How closely do Surf Air Mobility Inc. (SRFM) and Workhorse Group, Inc. (WKHS) 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 SRFM and WKHS?
Across a 3-year window, the weekly returns of SRFM and WKHS correlate at 0.42, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.18 versus 0.42 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 9908.5 %².
Among the 11 assets we track against SRFM, WKHS ranks #5 by 3-year correlation. Neither side won the trailing year by much: -83.9% against -80.6%.
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.
SRFM vs WKHS: side by side
| SRFM (Surf Air Mobility Inc.) | WKHS (Workhorse Group, Inc.) | |
|---|---|---|
| 1-year return | -83.9% | -80.6% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 150.4% | 157.8% |
| Beta vs S&P 500 | 3.45 | 1.44 |
| Max drawdown (3Y) | -96.2% | -99.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SRFM | WKHS |
|---|---|---|
| 2022 | – | -65.1% |
| 2023 | – | -76.3% |
| 2024 | -50.3% | -90.3% |
| 2025 | -64.0% | -95.1% |
| 2026 | -62.6% | -37.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SRFM and WKHS good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between SRFM and WKHS?
The SRFM/WKHS correlation stands at 0.42 on a 3-year window (1 year: 0.18, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WKHS a good diversifier for SRFM?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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/srfm-vs-wkhs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/srfm-vs-wkhs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SRFM correlations · WKHS correlations
