AVA vs FLYE: Correlation
How closely do Avista Corporation (AVA) and Fly-E Group, Inc. (FLYE) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVA and FLYE?
On 3 years of weekly data the AVA/FLYE correlation comes out at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.26 over 3. The 5-year figure is n/a, and annualized covariance runs at -748.4 %².
Among the 20 assets we track against AVA, FLYE sits near the bottom by co-movement, at rank #20. The last year tells two different stories: AVA led by 95.9 percentage points, +6.9% for AVA against -89.0% for FLYE. Risk is not evenly split, since FLYE carries 7.7 times the volatility of the other side.
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.
AVA vs FLYE: side by side
| AVA (Avista Corporation) | FLYE (Fly-E Group, Inc.) | |
|---|---|---|
| 1-year return | +6.9% | -89.0% |
| 5-year return | +15.3% | n/a |
| Volatility (ann.) | 19.8% | 153.0% |
| Beta vs S&P 500 | 0.05 | 1.73 |
| Max drawdown (3Y) | -14.0% | -99.8% |
| Market cap | $3.2B | – |
| P/E (trailing) | 13.8 | – |
| Dividend yield | 5.15% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVA | FLYE |
|---|---|---|
| 2022 | +8.8% | – |
| 2023 | -15.3% | – |
| 2024 | +7.8% | – |
| 2025 | +10.7% | -92.1% |
| 2026 | +1.6% | -74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVA and FLYE good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AVA and FLYE?
As of 2026-08-27, the correlation of weekly returns between AVA and FLYE is -0.26 over 3 years, -0.29 over 1 year and n/a over 5 years.
Is FLYE a good diversifier for AVA?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 mean?
A reading of -0.26 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: AVA correlations · FLYE correlations
