AAON vs MTSI: Correlation
Measured on weekly returns over the past three years, AAON, Inc. (AAON) and MACOM Technology Solutions Holdings, Inc. (MTSI) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAON and MTSI?
On 3 years of weekly data the AAON/MTSI correlation comes out at 0.56, moderate. Little has changed lately, as the 1-year reading of 0.63 lands near the 3-year figure. The 5-year figure is 0.52, and annualized covariance runs at 1498.6 %².
Among the 11 assets we track against AAON, MTSI ranks #4 by 3-year correlation. The last year tells two different stories: MTSI led by 121.2 percentage points, -7.4% for AAON against +113.8% for MTSI.
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.
AAON vs MTSI: side by side
| AAON (AAON, Inc.) | MTSI (MACOM Technology Solutions Holdings, Inc.) | |
|---|---|---|
| 1-year return | -7.4% | +113.8% |
| 5-year return | +73.5% | +341.3% |
| Volatility (ann.) | 54.9% | 48.7% |
| Beta vs S&P 500 | 1.58 | 1.65 |
| Max drawdown (3Y) | -48.9% | -44.2% |
| Market cap | $6.4B | $21.2B |
| P/E (trailing) | 42.0 | 88.3 |
| Dividend yield | 0.50% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAON | MTSI |
|---|---|---|
| 2022 | -4.6% | -19.6% |
| 2023 | +47.9% | +47.6% |
| 2024 | +59.9% | +39.8% |
| 2025 | -34.9% | +31.8% |
| 2026 | +2.7% | +61.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAON and MTSI good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AAON and MTSI?
As of 2026-08-27, the correlation of weekly returns between AAON and MTSI is 0.56 over 3 years, 0.63 over 1 year and 0.52 over 5 years.
Is MTSI a good diversifier for AAON?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aaon-vs-mtsi.json
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[](https://www.pairbook.io/pair/aaon-vs-mtsi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AAON correlations · MTSI correlations
