ALOY vs VATE: Correlation
REalloys Inc. (ALOY) and INNOVATE Corp. (VATE) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALOY and VATE?
Over the past 3 years, ALOY and VATE moved with a correlation of 0.36, which is moderate. The past 12 months show a weaker link (0.13) than the 3-year average (0.36). Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 5557.1 %².
In ALOY's tracked universe of 11 assets, VATE sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months ALOY outperformed by 54.2 percentage points (+100.0% for ALOY against +45.8% for VATE).
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.
ALOY vs VATE: side by side
| ALOY (REalloys Inc.) | VATE (INNOVATE Corp.) | |
|---|---|---|
| 1-year return | +100.0% | +45.8% |
| 5-year return | -4.5% | -79.2% |
| Volatility (ann.) | 125.1% | 122.7% |
| Beta vs S&P 500 | 1.27 | 2.14 |
| Max drawdown (3Y) | -72.9% | -81.0% |
| Market cap | $0.8B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALOY | VATE |
|---|---|---|
| 2022 | -91.6% | -49.5% |
| 2023 | +135.0% | -34.2% |
| 2024 | -22.0% | -59.8% |
| 2025 | +268.0% | -8.5% |
| 2026 | +41.1% | +71.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALOY and VATE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALOY and VATE?
As of 2026-08-27, the correlation of weekly returns between ALOY and VATE is 0.36 over 3 years, 0.13 over 1 year and 0.27 over 5 years.
Is VATE a good diversifier for ALOY?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/aloy-vs-vate.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aloy-vs-vate/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALOY correlations · VATE correlations
