AAP vs CHAI: Correlation
Advance Auto Parts Inc. (AAP) and Core AI Holdings, Inc. (CHAI) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AAP and CHAI?
Across a 3-year window, the weekly returns of AAP and CHAI correlate at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.27 versus 0.39 over 3 years. Stretching to 5 years gives 0.25, with an annualized covariance of 3409.5 %².
In AAP's tracked universe of 11 assets, CHAI sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months AAP outperformed by 71.2 percentage points (-26.7% for AAP against -97.9% for CHAI). Note the risk asymmetry: CHAI runs 2.7 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.
AAP vs CHAI: side by side
| AAP (Advance Auto Parts Inc.) | CHAI (Core AI Holdings, Inc.) | |
|---|---|---|
| 1-year return | -26.7% | -97.9% |
| 5-year return | -75.5% | -100.0% |
| Volatility (ann.) | 57.4% | 153.8% |
| Beta vs S&P 500 | 0.80 | 0.95 |
| Max drawdown (3Y) | -64.2% | -100.0% |
| Market cap | – | – |
| P/E (trailing) | 24.7 | – |
| Dividend yield | 2.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAP | CHAI |
|---|---|---|
| 2022 | -36.5% | -95.9% |
| 2023 | -57.6% | -96.1% |
| 2024 | -21.1% | -99.2% |
| 2025 | -15.0% | -93.3% |
| 2026 | +12.8% | -84.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAP and CHAI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AAP and CHAI?
As of 2026-08-27, the correlation of weekly returns between AAP and CHAI is 0.39 over 3 years, 0.27 over 1 year and 0.25 over 5 years.
Is CHAI a good diversifier for AAP?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 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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Hubs: AAP correlations · CHAI correlations
