AIHS vs FET: Correlation
How closely do Senmiao Technology Limited (AIHS) and Forum Energy Technologies, Inc. (FET) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AIHS and FET?
Over the past 3 years, AIHS and FET moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.08) runs above the 3-year figure (-0.23). Over 5 years the correlation is -0.08, and the annualized covariance of weekly returns is -914.3 %².
Among the 19 assets we track against AIHS, FET ranks #13 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FET ahead by 271.0 points (-58.3% versus +212.7%). One caveat on sizing: AIHS is 1.7 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.
AIHS vs FET: side by side
| AIHS (Senmiao Technology Limited) | FET (Forum Energy Technologies, Inc.) | |
|---|---|---|
| 1-year return | -58.3% | +212.7% |
| 5-year return | -97.9% | +307.0% |
| Volatility (ann.) | 85.8% | 49.1% |
| Beta vs S&P 500 | -0.01 | 0.80 |
| Max drawdown (3Y) | -93.0% | -47.1% |
| Market cap | – | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AIHS | FET |
|---|---|---|
| 2022 | -75.6% | +83.8% |
| 2023 | -54.6% | -24.8% |
| 2024 | +161.0% | -30.1% |
| 2025 | -90.0% | +138.5% |
| 2026 | +22.4% | +115.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AIHS and FET good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between AIHS and FET?
The AIHS/FET correlation stands at -0.23 on a 3-year window (1 year: -0.08, 5 years: -0.08), computed from weekly returns as of 2026-08-27.
Is FET a good diversifier for AIHS?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AIHS correlations · FET correlations
