AEHR vs FORM: Correlation
Aehr Test Systems (AEHR) and FormFactor, Inc. (FORM) show a moderate relationship: their 3-year correlation of weekly returns is 0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEHR and FORM?
On 3 years of weekly data the AEHR/FORM correlation comes out at 0.45, moderate. The past 12 months show a tighter link (0.56) than the 3-year average (0.45). The 5-year figure is 0.43, and annualized covariance runs at 2565.2 %².
In AEHR's tracked universe of 11 assets, FORM sits right near the top at #3. Twelve-month performance is nearly a tie, at +272.3% for AEHR and +276.6% for FORM. Note the risk asymmetry: AEHR runs 1.7 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.
AEHR vs FORM: side by side
| AEHR (Aehr Test Systems) | FORM (FormFactor, Inc.) | |
|---|---|---|
| 1-year return | +272.3% | +276.6% |
| 5-year return | +1209.1% | +178.6% |
| Volatility (ann.) | 97.6% | 58.1% |
| Beta vs S&P 500 | 2.33 | 2.08 |
| Max drawdown (3Y) | -87.2% | -62.7% |
| Market cap | $3.0B | $8.6B |
| P/E (trailing) | – | 74.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEHR | FORM |
|---|---|---|
| 2022 | -16.9% | -51.4% |
| 2023 | +32.0% | +87.6% |
| 2024 | -37.3% | +5.5% |
| 2025 | +21.4% | +26.8% |
| 2026 | +348.0% | +97.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEHR and FORM good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AEHR and FORM?
The AEHR/FORM correlation stands at 0.45 on a 3-year window (1 year: 0.56, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is FORM a good diversifier for AEHR?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
On the −1 to +1 scale, 0.45 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/aehr-vs-form.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aehr-vs-form/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AEHR correlations · FORM correlations
