TECX vs XAIR: Correlation
How closely do Tectonic Therapeutic, Inc. (TECX) and Beyond Air, Inc. (XAIR) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TECX and XAIR?
Across a 3-year window, the weekly returns of TECX and XAIR correlate at -0.29, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.05 versus -0.29 over 3 years. Stretching to 5 years gives -0.25, with an annualized covariance of -19751.7 %².
XAIR is close to the least connected end of TECX's tracked universe, ranking #15 of 17. Correlation aside, the last 12 months split them widely, with TECX ahead by 125.7 points (+38.2% versus -87.5%). Risk is not evenly split, since TECX carries 5.9 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.
TECX vs XAIR: side by side
| TECX (Tectonic Therapeutic, Inc.) | XAIR (Beyond Air, Inc.) | |
|---|---|---|
| 1-year return | +38.2% | -87.5% |
| 5-year return | -52.9% | -99.9% |
| Volatility (ann.) | 628.0% | 106.7% |
| Beta vs S&P 500 | 0.20 | 0.35 |
| Max drawdown (3Y) | -92.8% | -99.6% |
| Market cap | $0.7B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TECX | XAIR |
|---|---|---|
| 2022 | -81.6% | -31.2% |
| 2023 | +91.5% | -69.8% |
| 2024 | +182.9% | -81.7% |
| 2025 | -54.8% | -89.9% |
| 2026 | +75.9% | -60.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TECX and XAIR good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TECX and XAIR?
As of 2026-08-27, the correlation of weekly returns between TECX and XAIR is -0.29 over 3 years, -0.05 over 1 year and -0.25 over 5 years.
Is XAIR a good diversifier for TECX?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 mean?
A reading of -0.29 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/tecx-vs-xair.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tecx-vs-xair/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TECX correlations · XAIR correlations
