AAOI vs BCV: Correlation
How closely do Applied Optoelectronics, Inc. (AAOI) and Bancroft Fund, Ltd. (BCV) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAOI and BCV?
Across a 3-year window, the weekly returns of AAOI and BCV correlate at 0.48, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.36 versus 0.48 over 3 years. Stretching to 5 years gives 0.41, with an annualized covariance of 1003.9 %².
By 3-year correlation, BCV places #4 of the 11 assets tracked against AAOI. Their recent paths diverged sharply: over the last 12 months AAOI outperformed by 342.7 percentage points (+371.0% for AAOI against +28.3% for BCV). Risk is not evenly split, since AAOI carries 6.8 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.
AAOI vs BCV: side by side
| AAOI (Applied Optoelectronics, Inc.) | BCV (Bancroft Fund, Ltd.) | |
|---|---|---|
| 1-year return | +371.0% | +28.3% |
| 5-year return | +1456.0% | +22.7% |
| Volatility (ann.) | 119.6% | 17.6% |
| Beta vs S&P 500 | 3.25 | 0.68 |
| Max drawdown (3Y) | -77.2% | -14.6% |
| Market cap | $9.6B | $0.1B |
| P/E (trailing) | – | 3.7 |
| Dividend yield | 0.00% | 5.42% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAOI | BCV |
|---|---|---|
| 2022 | -63.2% | -33.7% |
| 2023 | +922.2% | +5.6% |
| 2024 | +90.8% | +19.8% |
| 2025 | -5.4% | +33.4% |
| 2026 | +225.0% | +16.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAOI and BCV good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AAOI and BCV?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.36 over the last year and 0.41 over 5 years.
Is BCV a good diversifier for AAOI?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
A reading of 0.48 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/aaoi-vs-bcv.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aaoi-vs-bcv/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AAOI correlations · BCV correlations
