AES vs TAN: Correlation
Measured on weekly returns over the past three years, AES Corporation (AES) and Invesco Solar ETF (TAN) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AES and TAN?
Across a 3-year window, the weekly returns of AES and TAN correlate at 0.50, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.50). Stretching to 5 years gives 0.51, with an annualized covariance of 749.4 %².
Among the 31 assets we track against AES, TAN ranks #7 by 3-year correlation. Over the last 12 months TAN came out ahead by 5.5 percentage points (+15.9% against +21.4%). Across three years, the rolling one-year figure varied moderately, from 0.23 to 0.64.
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 TAN: side by side
| AES (AES Corporation) | TAN (Invesco Solar ETF) | |
|---|---|---|
| 1-year return | +15.9% | +21.4% |
| 5-year return | -25.1% | -41.9% |
| Volatility (ann.) | 40.5% | 37.4% |
| Beta vs S&P 500 | 0.86 | 1.04 |
| Max drawdown (3Y) | -53.3% | -55.4% |
| Market cap | $10.5B | – |
| P/E (trailing) | 5.5 | – |
| Dividend yield | 4.78% | – |
| Sector / category | Utilities | ETF · Thematic |
Year-by-year returns
| Year | AES | TAN |
|---|---|---|
| 2022 | +21.7% | -5.2% |
| 2023 | -30.9% | -26.8% |
| 2024 | -30.4% | -37.6% |
| 2025 | +18.3% | +48.3% |
| 2026 | +6.6% | +1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AES and TAN good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AES and TAN?
The AES/TAN correlation stands at 0.50 on a 3-year window (1 year: 0.22, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is TAN a good diversifier for AES?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
On the −1 to +1 scale, 0.50 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-tan.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aes-vs-tan/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AES correlations · TAN correlations
