AES vs PAPL: Correlation
Measured on weekly returns over the past three years, AES Corporation (AES) and Pineapple Financial Inc. (PAPL) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AES and PAPL?
Across a 3-year window, the weekly returns of AES and PAPL correlate at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.22 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -1466.6 %².
Among the 31 assets we track against AES, PAPL sits near the bottom by co-movement, at rank #28. The last year tells two different stories: AES led by 86.6 percentage points, +15.9% for AES against -70.7% for PAPL. Risk is not evenly split, since PAPL carries 4.5 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.
AES vs PAPL: side by side
| AES (AES Corporation) | PAPL (Pineapple Financial Inc.) | |
|---|---|---|
| 1-year return | +15.9% | -70.7% |
| 5-year return | -25.1% | n/a |
| Volatility (ann.) | 40.5% | 181.2% |
| Beta vs S&P 500 | 0.86 | -0.73 |
| Max drawdown (3Y) | -53.3% | -99.4% |
| Market cap | $10.5B | – |
| P/E (trailing) | 5.5 | – |
| Dividend yield | 4.78% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AES | PAPL |
|---|---|---|
| 2022 | +21.7% | – |
| 2023 | -30.9% | – |
| 2024 | -30.4% | -74.7% |
| 2025 | +18.3% | -84.4% |
| 2026 | +6.6% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AES and PAPL good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AES and PAPL?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.22 over the last year and n/a over 5 years.
Is PAPL a good diversifier for AES?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 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/aes-vs-papl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aes-vs-papl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AES correlations · PAPL correlations
