AERT vs CDIO: Correlation
How closely do Aeries Technology, Inc. - Class A (AERT) and Cardio Diagnostics Holdings Inc. (CDIO) trade together? Their weekly returns over three years give a correlation of -0.32, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AERT and CDIO?
Across a 3-year window, the weekly returns of AERT and CDIO correlate at -0.32, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.21) than the 3-year average (-0.32). Stretching to 5 years gives -0.18, with an annualized covariance of -7334.0 %².
CDIO is close to the least connected end of AERT's tracked universe, ranking #10 of 10. Their recent paths diverged sharply: over the last 12 months AERT outperformed by 61.6 percentage points (+11.5% for AERT against -50.1% for CDIO). One caveat on sizing: CDIO is 2.0 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.
AERT vs CDIO: side by side
| AERT (Aeries Technology, Inc. - Class A) | CDIO (Cardio Diagnostics Holdings Inc.) | |
|---|---|---|
| 1-year return | +11.5% | -50.1% |
| 5-year return | -91.2% | -99.4% |
| Volatility (ann.) | 108.4% | 214.2% |
| Beta vs S&P 500 | 0.78 | 3.57 |
| Max drawdown (3Y) | -97.4% | -98.9% |
| Market cap | – | – |
| P/E (trailing) | 17.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AERT | CDIO |
|---|---|---|
| 2022 | +4.7% | – |
| 2023 | -75.5% | +134.9% |
| 2024 | -62.8% | -63.2% |
| 2025 | -44.5% | -90.1% |
| 2026 | +66.4% | -31.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AERT and CDIO good diversifiers for each other?
Yes. With a correlation of -0.32, AERT and CDIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AERT and CDIO?
The AERT/CDIO correlation stands at -0.32 on a 3-year window (1 year: -0.21, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is CDIO a good diversifier for AERT?
Yes. With a correlation of -0.32, AERT and CDIO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.32 mean?
On the −1 to +1 scale, -0.32 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/aert-vs-cdio.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aert-vs-cdio/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AERT correlations · CDIO correlations
