AYI vs FTEK: Correlation
Measured on weekly returns over the past three years, Acuity Inc. (AYI) and Fuel Tech, Inc. (FTEK) carry a correlation of 0.34, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AYI and FTEK?
Over the past 3 years, AYI and FTEK moved with a correlation of 0.34, which is moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.34). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 588.2 %².
Among the 12 assets we track against AYI, FTEK sits near the bottom by co-movement, at rank #9. The last year tells two different stories: AYI led by 52.4 percentage points, +2.6% for AYI against -49.8% for FTEK. Risk is not evenly split, since FTEK carries 1.9 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.
AYI vs FTEK: side by side
| AYI (Acuity Inc.) | FTEK (Fuel Tech, Inc.) | |
|---|---|---|
| 1-year return | +2.6% | -49.8% |
| 5-year return | +86.6% | -21.1% |
| Volatility (ann.) | 30.1% | 58.1% |
| Beta vs S&P 500 | 1.13 | 0.70 |
| Max drawdown (3Y) | -33.7% | -67.2% |
| Market cap | $10.2B | – |
| P/E (trailing) | 22.7 | – |
| Dividend yield | 0.22% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AYI | FTEK |
|---|---|---|
| 2022 | -21.5% | -9.3% |
| 2023 | +24.1% | -17.3% |
| 2024 | +42.9% | +0.0% |
| 2025 | +23.5% | +48.6% |
| 2026 | -4.9% | -6.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AYI and FTEK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AYI and FTEK?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.52 over the last year and 0.31 over 5 years.
Is FTEK a good diversifier for AYI?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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: AYI correlations · FTEK correlations
