AAP vs RFAI: Correlation
Advance Auto Parts Inc. (AAP) and RF Acquisition Corp II (RFAI) show a negative 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 AAP and RFAI?
On 3 years of weekly data the AAP/RFAI correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.28). The 5-year figure is n/a, and annualized covariance runs at -4913.5 %².
Among the 11 assets we track against AAP, RFAI sits near the bottom by co-movement, at rank #11. The last year tells two different stories: RFAI led by 416.2 percentage points, -26.7% for AAP against +389.5% for RFAI. One caveat on sizing: RFAI is 5.0 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.
AAP vs RFAI: side by side
| AAP (Advance Auto Parts Inc.) | RFAI (RF Acquisition Corp II) | |
|---|---|---|
| 1-year return | -26.7% | +389.5% |
| 5-year return | -75.5% | n/a |
| Volatility (ann.) | 57.4% | 288.3% |
| Beta vs S&P 500 | 0.80 | -1.62 |
| Max drawdown (3Y) | -64.2% | -16.5% |
| Market cap | – | $0.4B |
| P/E (trailing) | 24.7 | 399.9 |
| Dividend yield | 2.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AAP | RFAI |
|---|---|---|
| 2022 | -36.5% | – |
| 2023 | -57.6% | – |
| 2024 | -21.1% | – |
| 2025 | -15.0% | +5.2% |
| 2026 | +12.8% | +383.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AAP and RFAI good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AAP and RFAI?
As of 2026-08-27, the correlation of weekly returns between AAP and RFAI is -0.28 over 3 years, -0.41 over 1 year and n/a over 5 years.
Is RFAI a good diversifier for AAP?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aap-vs-rfai.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aap-vs-rfai/)
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Related comparisons
Hubs: AAP correlations · RFAI correlations
