AAOI vs RMT: Correlation
How closely do Applied Optoelectronics, Inc. (AAOI) and Royce Micro-Cap Trust, Inc. (RMT) 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 RMT?
Over the past 3 years, AAOI and RMT moved with a correlation of 0.48, which is moderate. The past 12 months show a weaker link (0.32) than the 3-year average (0.48). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 1186.1 %².
Among the 11 assets we track against AAOI, RMT ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AAOI ahead by 322.6 points (+371.0% versus +48.4%). One caveat on sizing: AAOI is 5.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RMT: side by side
| AAOI (Applied Optoelectronics, Inc.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | +371.0% | +48.4% |
| 5-year return | +1456.0% | +80.1% |
| Volatility (ann.) | 119.6% | 20.5% |
| Beta vs S&P 500 | 3.25 | 1.09 |
| Max drawdown (3Y) | -77.2% | -26.4% |
| Market cap | $9.6B | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAOI | RMT |
|---|---|---|
| 2022 | -63.2% | -16.8% |
| 2023 | +922.2% | +15.8% |
| 2024 | +90.8% | +14.0% |
| 2025 | -5.4% | +16.1% |
| 2026 | +225.0% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAOI and RMT good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AAOI and RMT?
As of 2026-08-27, the correlation of weekly returns between AAOI and RMT is 0.48 over 3 years, 0.32 over 1 year and 0.41 over 5 years.
Is RMT a good diversifier for AAOI?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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.
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Related comparisons
Hubs: AAOI correlations · RMT correlations
