AVAV vs MRCY: Correlation
Measured on weekly returns over the past three years, AeroVironment, Inc. (AVAV) and Mercury Systems Inc (MRCY) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVAV and MRCY?
On 3 years of weekly data the AVAV/MRCY correlation comes out at 0.47, moderate. The past 12 months show a tighter link (0.68) than the 3-year average (0.47). The 5-year figure is 0.43, and annualized covariance runs at 1684.9 %².
MRCY is one of the assets that tracks AVAV most closely: it ranks #2 out of the 13 assets we track against AVAV. The last year tells two different stories: MRCY led by 71.3 percentage points, -38.5% for AVAV against +32.8% for MRCY.
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.
AVAV vs MRCY: side by side
| AVAV (AeroVironment, Inc.) | MRCY (Mercury Systems Inc) | |
|---|---|---|
| 1-year return | -38.5% | +32.8% |
| 5-year return | +48.2% | +79.4% |
| Volatility (ann.) | 73.1% | 48.8% |
| Beta vs S&P 500 | 1.82 | 1.23 |
| Max drawdown (3Y) | -66.6% | -35.0% |
| Market cap | $7.7B | $5.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVAV | MRCY |
|---|---|---|
| 2022 | +38.1% | -18.7% |
| 2023 | +47.1% | -18.3% |
| 2024 | +22.1% | +14.8% |
| 2025 | +57.2% | +73.8% |
| 2026 | -37.0% | +23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVAV and MRCY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AVAV and MRCY?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.68 over the last year and 0.43 over 5 years.
Is MRCY a good diversifier for AVAV?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 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/avav-vs-mrcy.json
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Related comparisons
Hubs: AVAV correlations · MRCY correlations
