ARAY vs CHWY: Correlation
Measured on weekly returns over the past three years, Accuray Incorporated (ARAY) and Chewy, Inc. (CHWY) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARAY and CHWY?
Over the past 3 years, ARAY and CHWY moved with a correlation of 0.42, which is moderate. The relationship has been stable: the 1-year correlation (0.35) sits close to the 3-year figure. Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 1577.7 %².
Within ARAY's tracked universe of 10 assets, CHWY comes in at #5 by 3-year correlation. The last year tells two different stories: CHWY led by 39.7 percentage points, -83.3% for ARAY against -43.6% for CHWY.
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.
ARAY vs CHWY: side by side
| ARAY (Accuray Incorporated) | CHWY (Chewy, Inc.) | |
|---|---|---|
| 1-year return | -83.3% | -43.6% |
| 5-year return | -93.4% | -74.7% |
| Volatility (ann.) | 73.2% | 51.6% |
| Beta vs S&P 500 | 1.77 | 1.00 |
| Max drawdown (3Y) | -92.5% | -63.7% |
| Market cap | – | $9.3B |
| P/E (trailing) | – | 38.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARAY | CHWY |
|---|---|---|
| 2022 | -56.2% | -37.1% |
| 2023 | +35.4% | -36.3% |
| 2024 | -30.0% | +41.7% |
| 2025 | -58.6% | -1.3% |
| 2026 | -68.0% | -31.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARAY and CHWY good diversifiers for each other?
Reasonably. At 0.42, ARAY and CHWY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARAY and CHWY?
As of 2026-08-27, the correlation of weekly returns between ARAY and CHWY is 0.42 over 3 years, 0.35 over 1 year and 0.41 over 5 years.
Is CHWY a good diversifier for ARAY?
Reasonably. At 0.42, ARAY and CHWY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aray-vs-chwy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aray-vs-chwy/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ARAY correlations · CHWY correlations
