AEIS vs GLW: Correlation
Measured on weekly returns over the past three years, Advanced Energy Industries, Inc. (AEIS) and Corning Inc. (GLW) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEIS and GLW?
On 3 years of weekly data the AEIS/GLW correlation comes out at 0.53, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.53 over 3. The 5-year figure is 0.51, and annualized covariance runs at 978.9 %².
Within AEIS's tracked universe of 32 assets, GLW comes in at #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GLW ahead by 42.7 points (+87.0% versus +129.7%).
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 GLW: side by side
| AEIS (Advanced Energy Industries, Inc.) | GLW (Corning Inc.) | |
|---|---|---|
| 1-year return | +87.0% | +129.7% |
| 5-year return | +222.9% | +331.4% |
| Volatility (ann.) | 43.9% | 42.1% |
| Beta vs S&P 500 | 1.69 | 1.15 |
| Max drawdown (3Y) | -39.9% | -51.5% |
| Market cap | $11.5B | $131.6B |
| P/E (trailing) | 52.4 | 70.4 |
| Dividend yield | 0.14% | 0.73% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | AEIS | GLW |
|---|---|---|
| 2022 | -5.4% | -11.6% |
| 2023 | +27.5% | -1.2% |
| 2024 | +6.6% | +60.6% |
| 2025 | +81.6% | +87.8% |
| 2026 | +37.3% | +75.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEIS and GLW good diversifiers for each other?
Only partially. A correlation of 0.53 means AEIS and GLW 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 GLW?
The AEIS/GLW correlation stands at 0.53 on a 3-year window (1 year: 0.49, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is GLW a good diversifier for AEIS?
Only partially. A correlation of 0.53 means AEIS and GLW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.53 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-glw.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aeis-vs-glw/)
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Related comparisons
Hubs: AEIS correlations · GLW correlations
