AON vs FLYE: Correlation
How closely do Aon plc (AON) and Fly-E Group, Inc. (FLYE) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AON and FLYE?
On 3 years of weekly data the AON/FLYE correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.15 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -688.0 %².
FLYE is close to the least connected end of AON's tracked universe, ranking #28 of 32. The last year tells two different stories: AON led by 84.4 percentage points, -4.6% for AON against -89.0% for FLYE. One caveat on sizing: FLYE is 7.1 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.
AON vs FLYE: side by side
| AON (Aon plc) | FLYE (Fly-E Group, Inc.) | |
|---|---|---|
| 1-year return | -4.6% | -89.0% |
| 5-year return | +27.0% | n/a |
| Volatility (ann.) | 21.7% | 153.0% |
| Beta vs S&P 500 | 0.34 | 1.73 |
| Max drawdown (3Y) | -24.2% | -99.8% |
| Market cap | $74.2B | – |
| P/E (trailing) | 19.5 | – |
| Dividend yield | 0.86% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | AON | FLYE |
|---|---|---|
| 2022 | +0.6% | – |
| 2023 | -2.3% | – |
| 2024 | +24.5% | – |
| 2025 | -1.2% | -92.1% |
| 2026 | -0.5% | -74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AON and FLYE good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AON and FLYE?
The AON/FLYE correlation stands at -0.21 on a 3-year window (1 year: -0.15, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FLYE a good diversifier for AON?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 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: AON correlations · FLYE correlations
