AVNW vs CE: Correlation
How closely do Aviat Networks, Inc. (AVNW) and Celanese Corporation (CE) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVNW and CE?
On 3 years of weekly data the AVNW/CE correlation comes out at 0.43, moderate. Recent behaviour matches the longer record: 0.36 over 1 year against 0.43 over 3. The 5-year figure is 0.42, and annualized covariance runs at 1086.8 %².
Few assets follow AVNW as closely as CE, which ranks #3 of 13 tracked partners. Twelve-month performance is nearly a tie, at -6.6% for AVNW and -4.6% for CE.
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.
AVNW vs CE: side by side
| AVNW (Aviat Networks, Inc.) | CE (Celanese Corporation) | |
|---|---|---|
| 1-year return | -6.6% | -4.6% |
| 5-year return | -39.7% | -69.7% |
| Volatility (ann.) | 50.7% | 49.7% |
| Beta vs S&P 500 | 0.79 | 0.79 |
| Max drawdown (3Y) | -64.3% | -79.0% |
| Market cap | $0.3B | $4.9B |
| P/E (trailing) | 31.1 | – |
| Dividend yield | 0.00% | 0.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVNW | CE |
|---|---|---|
| 2022 | -2.8% | -37.8% |
| 2023 | +4.7% | +55.7% |
| 2024 | -44.5% | -54.6% |
| 2025 | +18.1% | -38.8% |
| 2026 | +0.3% | +6.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVNW and CE good diversifiers for each other?
Reasonably. At 0.43, AVNW and CE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AVNW and CE?
The AVNW/CE correlation stands at 0.43 on a 3-year window (1 year: 0.36, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is CE a good diversifier for AVNW?
Reasonably. At 0.43, AVNW and CE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.43 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/avnw-vs-ce.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/avnw-vs-ce/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVNW correlations · CE correlations
