AES vs RUN: Correlation
How closely do AES Corporation (AES) and Sunrun Inc. (RUN) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AES and RUN?
Across a 3-year window, the weekly returns of AES and RUN correlate at 0.48, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.14 versus 0.48 over 3 years. Stretching to 5 years gives 0.51, with an annualized covariance of 1852.8 %².
Within AES's tracked universe of 31 assets, RUN comes in at #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AES ahead by 58.6 points (+15.9% versus -42.7%). One caveat on sizing: RUN is 2.3 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.
AES vs RUN: side by side
| AES (AES Corporation) | RUN (Sunrun Inc.) | |
|---|---|---|
| 1-year return | +15.9% | -42.7% |
| 5-year return | -25.1% | -79.7% |
| Volatility (ann.) | 40.5% | 94.7% |
| Beta vs S&P 500 | 0.86 | 1.89 |
| Max drawdown (3Y) | -53.3% | -73.7% |
| Market cap | $10.5B | $2.2B |
| P/E (trailing) | 5.5 | 6.2 |
| Dividend yield | 4.78% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AES | RUN |
|---|---|---|
| 2022 | +21.7% | -30.0% |
| 2023 | -30.9% | -18.3% |
| 2024 | -30.4% | -52.9% |
| 2025 | +18.3% | +98.9% |
| 2026 | +6.6% | -50.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AES and RUN good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AES and RUN?
As of 2026-08-27, the correlation of weekly returns between AES and RUN is 0.48 over 3 years, 0.14 over 1 year and 0.51 over 5 years.
Is RUN a good diversifier for AES?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
On the −1 to +1 scale, 0.48 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/aes-vs-run.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aes-vs-run/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AES correlations · RUN correlations
