AEON vs CAAS: Correlation
How closely do AEON Biopharma, Inc. (AEON) and China Automotive Systems, Inc. (CAAS) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEON and CAAS?
On 3 years of weekly data the AEON/CAAS correlation comes out at 0.33, moderate. The past 12 months show a weaker link (0.21) than the 3-year average (0.33). The 5-year figure is 0.24, and annualized covariance runs at 1629.8 %².
Few assets follow AEON as closely as CAAS, which ranks #3 of 10 tracked partners. Correlation aside, the last 12 months split them widely, with CAAS ahead by 86.6 points (-61.8% versus +24.8%). Risk is not evenly split, since AEON carries 4.1 times the volatility of the other side.
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.
AEON vs CAAS: side by side
| AEON (AEON Biopharma, Inc.) | CAAS (China Automotive Systems, Inc.) | |
|---|---|---|
| 1-year return | -61.8% | +24.8% |
| 5-year return | n/a | +72.1% |
| Volatility (ann.) | 141.3% | 34.5% |
| Beta vs S&P 500 | 1.33 | 0.49 |
| Max drawdown (3Y) | -100.0% | -32.9% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 2.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEON | CAAS |
|---|---|---|
| 2022 | – | +116.4% |
| 2023 | – | -44.3% |
| 2024 | -92.5% | +52.0% |
| 2025 | -97.2% | +3.9% |
| 2026 | -73.3% | +18.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEON and CAAS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AEON and CAAS?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.21 over the last year and 0.24 over 5 years.
Is CAAS a good diversifier for AEON?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 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/aeon-vs-caas.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aeon-vs-caas/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEON correlations · CAAS correlations
