ASG vs AVAV: Correlation
How closely do Liberty All-Star Growth Fund, Inc. (ASG) and AeroVironment, Inc. (AVAV) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASG and AVAV?
On 3 years of weekly data the ASG/AVAV correlation comes out at 0.42, moderate. Recent behaviour matches the longer record: 0.49 over 1 year against 0.42 over 3. The 5-year figure is 0.36, and annualized covariance runs at 556.2 %².
Out of 52 assets tracked against ASG, AVAV lands near the bottom at #48. Their recent paths diverged sharply: over the last 12 months ASG outperformed by 41.8 percentage points (+3.3% for ASG against -38.5% for AVAV). Note the risk asymmetry: AVAV runs 4.0 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ASG vs AVAV: side by side
| ASG (Liberty All-Star Growth Fund, Inc.) | AVAV (AeroVironment, Inc.) | |
|---|---|---|
| 1-year return | +3.3% | -38.5% |
| 5-year return | -5.6% | +48.2% |
| Volatility (ann.) | 18.3% | 73.1% |
| Beta vs S&P 500 | 1.12 | 1.82 |
| Max drawdown (3Y) | -25.3% | -66.6% |
| Market cap | $0.3B | $7.7B |
| P/E (trailing) | 23.9 | – |
| Dividend yield | 8.76% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASG | AVAV |
|---|---|---|
| 2022 | -40.9% | +38.1% |
| 2023 | +16.2% | +47.1% |
| 2024 | +16.8% | +22.1% |
| 2025 | +2.2% | +57.2% |
| 2026 | +6.0% | -37.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASG and AVAV good diversifiers for each other?
Reasonably. At 0.42, ASG and AVAV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ASG and AVAV?
The ASG/AVAV correlation stands at 0.42 on a 3-year window (1 year: 0.49, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is AVAV a good diversifier for ASG?
Reasonably. At 0.42, ASG and AVAV keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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.
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Related comparisons
Hubs: ASG correlations · AVAV correlations
