AAOI vs KEYS: Correlation
How closely do Applied Optoelectronics, Inc. (AAOI) and Keysight Technologies (KEYS) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAOI and KEYS?
Over the past 3 years, AAOI and KEYS moved with a correlation of 0.55, which is moderate. Recent behaviour matches the longer record: 0.61 over 1 year against 0.55 over 3. Over 5 years the correlation is 0.43, and the annualized covariance of weekly returns is 2438.6 %².
In AAOI's tracked universe of 11 assets, KEYS sits right near the top at #1. Correlation aside, the last 12 months split them widely, with AAOI ahead by 273.6 points (+371.0% versus +97.4%). Risk is not evenly split, since AAOI carries 3.2 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 KEYS: side by side
| AAOI (Applied Optoelectronics, Inc.) | KEYS (Keysight Technologies) | |
|---|---|---|
| 1-year return | +371.0% | +97.4% |
| 5-year return | +1456.0% | +81.9% |
| Volatility (ann.) | 119.6% | 36.8% |
| Beta vs S&P 500 | 3.25 | 1.58 |
| Max drawdown (3Y) | -77.2% | -31.4% |
| Market cap | $9.6B | $55.5B |
| P/E (trailing) | – | 43.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AAOI | KEYS |
|---|---|---|
| 2022 | -63.2% | -17.2% |
| 2023 | +922.2% | -7.0% |
| 2024 | +90.8% | +1.0% |
| 2025 | -5.4% | +26.5% |
| 2026 | +225.0% | +60.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAOI and KEYS good diversifiers for each other?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AAOI and KEYS?
The AAOI/KEYS correlation stands at 0.55 on a 3-year window (1 year: 0.61, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is KEYS a good diversifier for AAOI?
Somewhat, no more. With 0.55 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.55 mean?
A reading of 0.55 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-keys.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aaoi-vs-keys/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AAOI correlations · KEYS correlations
