AEO vs DBI: Correlation
How closely do American Eagle Outfitters, Inc. (AEO) and Designer Brands Inc. (DBI) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEO and DBI?
Across a 3-year window, the weekly returns of AEO and DBI correlate at 0.50, moderate. Recent behaviour matches the longer record: 0.52 over 1 year against 0.50 over 3. Stretching to 5 years gives 0.48, with an annualized covariance of 2266.5 %².
Within AEO's tracked universe of 14 assets, DBI comes in at #6 by 3-year correlation. The last year tells two different stories: DBI led by 20.8 percentage points, +29.7% for AEO against +50.5% for DBI. One caveat on sizing: DBI is 1.5 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.
AEO vs DBI: side by side
| AEO (American Eagle Outfitters, Inc.) | DBI (Designer Brands Inc.) | |
|---|---|---|
| 1-year return | +29.7% | +50.5% |
| 5-year return | -39.1% | -60.6% |
| Volatility (ann.) | 54.2% | 82.9% |
| Beta vs S&P 500 | 1.21 | 1.72 |
| Max drawdown (3Y) | -63.1% | -81.7% |
| Market cap | – | $0.3B |
| P/E (trailing) | 10.5 | 26.0 |
| Dividend yield | 2.84% | 3.50% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEO | DBI |
|---|---|---|
| 2022 | -43.4% | -30.1% |
| 2023 | +54.9% | -7.7% |
| 2024 | -19.3% | -38.0% |
| 2025 | +64.7% | +46.5% |
| 2026 | -35.5% | -25.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEO and DBI good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AEO and DBI?
The AEO/DBI correlation stands at 0.50 on a 3-year window (1 year: 0.52, 5 years: 0.48), computed from weekly returns as of 2026-08-27.
Is DBI a good diversifier for AEO?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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/aeo-vs-dbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aeo-vs-dbi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AEO correlations · DBI correlations
