AAOI vs WLYB: Correlation
Applied Optoelectronics, Inc. (AAOI) and John Wiley & Sons, Inc. (WLYB) show a weak relationship: their 3-year correlation of weekly returns is 0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAOI and WLYB?
Over the past 3 years, AAOI and WLYB moved with a correlation of 0.28, which is weak. The link has loosened recently: the 1-year correlation (0.12) runs below the 3-year figure (0.28). Over 5 years the correlation is 0.22, and the annualized covariance of weekly returns is 1260.4 %².
Out of 11 assets tracked against AAOI, WLYB lands near the bottom at #8. The last year tells two different stories: AAOI led by 330.1 percentage points, +371.0% for AAOI against +40.9% for WLYB. One caveat on sizing: AAOI is 3.2 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 WLYB: side by side
| AAOI (Applied Optoelectronics, Inc.) | WLYB (John Wiley & Sons, Inc.) | |
|---|---|---|
| 1-year return | +371.0% | +40.9% |
| 5-year return | +1456.0% | +10.5% |
| Volatility (ann.) | 119.6% | 37.4% |
| Beta vs S&P 500 | 3.25 | 0.31 |
| Max drawdown (3Y) | -77.2% | -41.5% |
| Market cap | $9.6B | $2.8B |
| P/E (trailing) | – | 13.0 |
| Dividend yield | 0.00% | 2.64% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAOI | WLYB |
|---|---|---|
| 2022 | -63.2% | -27.5% |
| 2023 | +922.2% | -14.7% |
| 2024 | +90.8% | +41.5% |
| 2025 | -5.4% | -27.3% |
| 2026 | +225.0% | +78.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAOI and WLYB good diversifiers for each other?
Reasonably. At 0.28, AAOI and WLYB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AAOI and WLYB?
The AAOI/WLYB correlation stands at 0.28 on a 3-year window (1 year: 0.12, 5 years: 0.22), computed from weekly returns as of 2026-08-27.
Is WLYB a good diversifier for AAOI?
Reasonably. At 0.28, AAOI and WLYB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.28 mean?
On the −1 to +1 scale, 0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: AAOI correlations · WLYB correlations
