AOSL vs HY: Correlation
How closely do Alpha and Omega Semiconductor Limited (AOSL) and Hyster-Yale, Inc. (HY) trade together? Their weekly returns over three years give a correlation of 0.51, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AOSL and HY?
On 3 years of weekly data the AOSL/HY correlation comes out at 0.51, moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.51 over 3. The 5-year figure is 0.37, and annualized covariance runs at 1627.7 %².
Within AOSL's tracked universe of 16 assets, HY comes in at #6 by 3-year correlation. On 12-month performance HY holds a 5.1-point edge, -11.4% against -6.3%. One caveat on sizing: AOSL is 1.5 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.
AOSL vs HY: side by side
| AOSL (Alpha and Omega Semiconductor Limited) | HY (Hyster-Yale, Inc.) | |
|---|---|---|
| 1-year return | -11.4% | -6.3% |
| 5-year return | -9.2% | -30.4% |
| Volatility (ann.) | 69.3% | 45.8% |
| Beta vs S&P 500 | 2.34 | 1.17 |
| Max drawdown (3Y) | -66.9% | -66.4% |
| Market cap | $0.8B | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 4.17% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AOSL | HY |
|---|---|---|
| 2022 | -52.8% | -35.9% |
| 2023 | -8.8% | +153.4% |
| 2024 | +42.1% | -16.3% |
| 2025 | -46.5% | -39.5% |
| 2026 | +32.4% | +19.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AOSL and HY good diversifiers for each other?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AOSL and HY?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.55 over the last year and 0.37 over 5 years.
Is HY a good diversifier for AOSL?
To a limited degree. At 0.51 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.51 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/aosl-vs-hy.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aosl-vs-hy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AOSL correlations · HY correlations
