AFJK vs WVE: Correlation
Measured on weekly returns over the past three years, Aimei Health Technology Co., Ltd (AFJK) and Wave Life Sciences, Inc. (WVE) carry a correlation of 0.53, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFJK and WVE?
Across a 3-year window, the weekly returns of AFJK and WVE correlate at 0.53, moderate. The link has tightened recently: the 1-year correlation (0.73) runs above the 3-year figure (0.53). Stretching to 5 years gives n/a, with an annualized covariance of 12687.5 %².
Few assets follow AFJK as closely as WVE, which ranks #3 of 29 tracked partners. The last year tells two different stories: AFJK led by 57.2 percentage points, +8.4% for AFJK against -48.8% for WVE. Note the risk asymmetry: AFJK runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AFJK vs WVE: side by side
| AFJK (Aimei Health Technology Co., Ltd) | WVE (Wave Life Sciences, Inc.) | |
|---|---|---|
| 1-year return | +8.4% | -48.8% |
| 5-year return | n/a | -15.0% |
| Volatility (ann.) | 197.3% | 113.5% |
| Beta vs S&P 500 | 0.18 | 1.84 |
| Max drawdown (3Y) | -86.8% | -76.3% |
| Market cap | – | $1.0B |
| P/E (trailing) | 174.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFJK | WVE |
|---|---|---|
| 2022 | – | +122.9% |
| 2023 | – | -27.9% |
| 2024 | – | +145.0% |
| 2025 | +498.2% | +37.4% |
| 2026 | -80.9% | -69.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFJK and WVE good diversifiers for each other?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AFJK and WVE?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.73 over the last year and n/a over 5 years.
Is WVE a good diversifier for AFJK?
Somewhat, no more. With 0.53 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.53 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/afjk-vs-wve.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/afjk-vs-wve/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AFJK correlations · WVE correlations
