AEO vs ZUMZ: Correlation
American Eagle Outfitters, Inc. (AEO) and Zumiez Inc. (ZUMZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.54.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEO and ZUMZ?
Over the past 3 years, AEO and ZUMZ moved with a correlation of 0.54, which is moderate. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 1482.7 %².
ZUMZ is one of the assets that tracks AEO most closely: it ranks #2 out of the 14 assets we track against AEO. Correlation aside, the last 12 months split them widely, with AEO ahead by 33.0 points (+29.7% versus -3.3%).
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 ZUMZ: side by side
| AEO (American Eagle Outfitters, Inc.) | ZUMZ (Zumiez Inc.) | |
|---|---|---|
| 1-year return | +29.7% | -3.3% |
| 5-year return | -39.1% | -57.5% |
| Volatility (ann.) | 54.2% | 50.2% |
| Beta vs S&P 500 | 1.21 | 1.20 |
| Max drawdown (3Y) | -63.1% | -60.2% |
| Market cap | – | $0.3B |
| P/E (trailing) | 10.5 | 24.5 |
| Dividend yield | 2.84% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEO | ZUMZ |
|---|---|---|
| 2022 | -43.4% | -54.7% |
| 2023 | +54.9% | -6.4% |
| 2024 | -19.3% | -5.8% |
| 2025 | +64.7% | +35.9% |
| 2026 | -35.5% | -32.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEO and ZUMZ good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AEO and ZUMZ?
The AEO/ZUMZ correlation stands at 0.54 on a 3-year window (1 year: 0.64, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is ZUMZ a good diversifier for AEO?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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/aeo-vs-zumz.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aeo-vs-zumz/)
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Related comparisons
Hubs: AEO correlations · ZUMZ correlations
