AES vs HASI: Correlation
AES Corporation (AES) and HA Sustainable Infrastructure Capital, Inc. (HASI) show a moderate relationship: their 3-year correlation of weekly returns is 0.57.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AES and HASI?
On 3 years of weekly data the AES/HASI correlation comes out at 0.57, moderate. The link has loosened recently: the 1-year correlation (0.18) runs below the 3-year figure (0.57). The 5-year figure is 0.56, and annualized covariance runs at 1111.2 %².
In AES's tracked universe of 31 assets, HASI sits right near the top at #2. Correlation aside, the last 12 months split them widely, with HASI ahead by 35.1 points (+15.9% versus +51.0%).
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.
AES vs HASI: side by side
| AES (AES Corporation) | HASI (HA Sustainable Infrastructure Capital, Inc.) | |
|---|---|---|
| 1-year return | +15.9% | +51.0% |
| 5-year return | -25.1% | -13.8% |
| Volatility (ann.) | 40.5% | 48.0% |
| Beta vs S&P 500 | 0.86 | 0.84 |
| Max drawdown (3Y) | -53.3% | -41.4% |
| Market cap | $10.5B | $5.2B |
| P/E (trailing) | 5.5 | 62.0 |
| Dividend yield | 4.78% | 4.22% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AES | HASI |
|---|---|---|
| 2022 | +21.7% | -43.0% |
| 2023 | -30.9% | +1.5% |
| 2024 | -30.4% | +3.0% |
| 2025 | +18.3% | +23.9% |
| 2026 | +6.6% | +31.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AES and HASI good diversifiers for each other?
Only partially. A correlation of 0.57 means AES and HASI 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 AES and HASI?
As of 2026-08-27, the correlation of weekly returns between AES and HASI is 0.57 over 3 years, 0.18 over 1 year and 0.56 over 5 years.
Is HASI a good diversifier for AES?
Only partially. A correlation of 0.57 means AES and HASI share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aes-vs-hasi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aes-vs-hasi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AES correlations · HASI correlations
