AEVA vs OUST: Correlation
How closely do Aeva Technologies, Inc. (AEVA) and Ouster, Inc. (OUST) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEVA and OUST?
Over the past 3 years, AEVA and OUST moved with a correlation of 0.50, which is moderate. The past 12 months show a tighter link (0.76) than the 3-year average (0.50). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 6515.0 %².
OUST is one of the assets that tracks AEVA most closely: it ranks #1 out of the 14 assets we track against AEVA. The last year tells two different stories: OUST led by 16.8 percentage points, +3.9% for AEVA against +20.7% for OUST.
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.
AEVA vs OUST: side by side
| AEVA (Aeva Technologies, Inc.) | OUST (Ouster, Inc.) | |
|---|---|---|
| 1-year return | +3.9% | +20.7% |
| 5-year return | -66.2% | -56.2% |
| Volatility (ann.) | 127.6% | 102.7% |
| Beta vs S&P 500 | 2.96 | 2.63 |
| Max drawdown (3Y) | -75.7% | -64.0% |
| Market cap | $1.1B | $2.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEVA | OUST |
|---|---|---|
| 2022 | -82.0% | -83.4% |
| 2023 | -44.3% | -11.1% |
| 2024 | +25.3% | +59.3% |
| 2025 | +179.6% | +77.1% |
| 2026 | +23.4% | +68.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEVA and OUST good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AEVA and OUST?
As of 2026-08-27, the correlation of weekly returns between AEVA and OUST is 0.50 over 3 years, 0.76 over 1 year and 0.52 over 5 years.
Is OUST a good diversifier for AEVA?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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/aeva-vs-oust.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aeva-vs-oust/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AEVA correlations · OUST correlations
