AVAV vs PBR: Correlation
AeroVironment, Inc. (AVAV) and Petroleo Brasileiro S.A. Petrobras (PBR) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVAV and PBR?
Over the past 3 years, AVAV and PBR moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.26). Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -637.8 %².
PBR is close to the least connected end of AVAV's tracked universe, ranking #12 of 13. Correlation aside, the last 12 months split them widely, with PBR ahead by 94.6 points (-38.5% versus +56.1%). Note the risk asymmetry: AVAV runs 2.2 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.
AVAV vs PBR: side by side
| AVAV (AeroVironment, Inc.) | PBR (Petroleo Brasileiro S.A. Petrobras) | |
|---|---|---|
| 1-year return | -38.5% | +56.1% |
| 5-year return | +48.2% | +417.1% |
| Volatility (ann.) | 73.1% | 32.9% |
| Beta vs S&P 500 | 1.82 | -0.08 |
| Max drawdown (3Y) | -66.6% | -26.9% |
| Market cap | $7.7B | $117.6B |
| P/E (trailing) | – | 4.5 |
| Dividend yield | 0.00% | 20.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVAV | PBR |
|---|---|---|
| 2022 | +38.1% | +57.2% |
| 2023 | +47.1% | +89.2% |
| 2024 | +22.1% | -2.3% |
| 2025 | +57.2% | -1.1% |
| 2026 | -37.0% | +60.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVAV and PBR 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 AVAV and PBR?
As of 2026-08-27, the correlation of weekly returns between AVAV and PBR is -0.26 over 3 years, -0.38 over 1 year and -0.13 over 5 years.
Is PBR a good diversifier for AVAV?
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?
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-pbr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avav-vs-pbr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AVAV correlations · PBR correlations
