AEIS vs ESI: Correlation
Advanced Energy Industries, Inc. (AEIS) and Element Solutions Inc. (ESI) show a strong relationship: their 3-year correlation of weekly returns is 0.67.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEIS and ESI?
On 3 years of weekly data the AEIS/ESI correlation comes out at 0.67, strong. Recent behaviour matches the longer record: 0.67 over 1 year against 0.67 over 3. The 5-year figure is 0.67, and annualized covariance runs at 958.1 %².
Among the 32 assets we track against AEIS, ESI ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AEIS outperformed by 43.7 percentage points (+87.0% for AEIS against +43.3% for ESI).
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.
AEIS vs ESI: side by side
| AEIS (Advanced Energy Industries, Inc.) | ESI (Element Solutions Inc.) | |
|---|---|---|
| 1-year return | +87.0% | +43.3% |
| 5-year return | +222.9% | +67.5% |
| Volatility (ann.) | 43.9% | 32.8% |
| Beta vs S&P 500 | 1.69 | 1.26 |
| Max drawdown (3Y) | -39.9% | -40.0% |
| Market cap | $11.5B | $8.9B |
| P/E (trailing) | 52.4 | 49.4 |
| Dividend yield | 0.14% | 0.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEIS | ESI |
|---|---|---|
| 2022 | -5.4% | -23.9% |
| 2023 | +27.5% | +29.3% |
| 2024 | +6.6% | +11.3% |
| 2025 | +81.6% | -0.4% |
| 2026 | +37.3% | +46.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEIS and ESI good diversifiers for each other?
Only partially. A correlation of 0.67 means AEIS and ESI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AEIS and ESI?
Using weekly returns as of 2026-08-27: 0.67 over 3 years, with 0.67 over the last year and 0.67 over 5 years.
Is ESI a good diversifier for AEIS?
Only partially. A correlation of 0.67 means AEIS and ESI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.67 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aeis-vs-esi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aeis-vs-esi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AEIS correlations · ESI correlations
