AEVA vs SURG: Correlation
Aeva Technologies, Inc. (AEVA) and SurgePays, Inc. (SURG) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEVA and SURG?
Over the past 3 years, AEVA and SURG moved with a correlation of 0.37, which is moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 4461.1 %².
Within AEVA's tracked universe of 14 assets, SURG comes in at #7 by 3-year correlation. The last year tells two different stories: AEVA led by 97.0 percentage points, +3.9% for AEVA against -93.1% for SURG.
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 SURG: side by side
| AEVA (Aeva Technologies, Inc.) | SURG (SurgePays, Inc.) | |
|---|---|---|
| 1-year return | +3.9% | -93.1% |
| 5-year return | -66.2% | -96.6% |
| Volatility (ann.) | 127.6% | 93.9% |
| Beta vs S&P 500 | 2.96 | 1.13 |
| Max drawdown (3Y) | -75.7% | -98.1% |
| Market cap | $1.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AEVA | SURG |
|---|---|---|
| 2022 | -82.0% | +224.8% |
| 2023 | -44.3% | -1.7% |
| 2024 | +25.3% | -72.4% |
| 2025 | +179.6% | -6.2% |
| 2026 | +23.4% | -89.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEVA and SURG good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AEVA and SURG?
As of 2026-08-27, the correlation of weekly returns between AEVA and SURG is 0.37 over 3 years, 0.47 over 1 year and 0.27 over 5 years.
Is SURG a good diversifier for AEVA?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/aeva-vs-surg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aeva-vs-surg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AEVA correlations · SURG correlations
