AAOI vs COHR: Correlation
Measured on weekly returns over the past three years, Applied Optoelectronics, Inc. (AAOI) and Coherent Corp. (COHR) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAOI and COHR?
Over the past 3 years, AAOI and COHR moved with a correlation of 0.51, which is moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. Over 5 years the correlation is 0.48, and the annualized covariance of weekly returns is 3984.7 %².
In AAOI's tracked universe of 11 assets, COHR sits right near the top at #2. The last year tells two different stories: AAOI led by 145.4 percentage points, +371.0% for AAOI against +225.6% for COHR. Note the risk asymmetry: AAOI runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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 COHR: side by side
| AAOI (Applied Optoelectronics, Inc.) | COHR (Coherent Corp.) | |
|---|---|---|
| 1-year return | +371.0% | +225.6% |
| 5-year return | +1456.0% | +368.6% |
| Volatility (ann.) | 119.6% | 65.0% |
| Beta vs S&P 500 | 3.25 | 2.76 |
| Max drawdown (3Y) | -77.2% | -54.8% |
| Market cap | $9.6B | $57.8B |
| P/E (trailing) | – | 71.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AAOI | COHR |
|---|---|---|
| 2022 | -63.2% | -48.6% |
| 2023 | +922.2% | +24.0% |
| 2024 | +90.8% | +117.6% |
| 2025 | -5.4% | +94.8% |
| 2026 | +225.0% | +60.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAOI and COHR good diversifiers for each other?
Only partially. A correlation of 0.51 means AAOI and COHR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AAOI and COHR?
As of 2026-08-27, the correlation of weekly returns between AAOI and COHR is 0.51 over 3 years, 0.54 over 1 year and 0.48 over 5 years.
Is COHR a good diversifier for AAOI?
Only partially. A correlation of 0.51 means AAOI and COHR share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aaoi-vs-cohr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aaoi-vs-cohr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AAOI correlations · COHR correlations
