HEI vs OIO: Correlation
How closely do Heico Corporation (HEI) and OIO Group (OIO) trade together? Their weekly returns over three years give a correlation of 0.29, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HEI and OIO?
On 3 years of weekly data the HEI/OIO correlation comes out at 0.29, weak. Recent behaviour matches the longer record: 0.26 over 1 year against 0.29 over 3. The 5-year figure is 0.26, and annualized covariance runs at 816.3 %².
Among the 12 assets we track against HEI, OIO sits near the bottom by co-movement, at rank #9. Their recent paths diverged sharply: over the last 12 months HEI outperformed by 80.6 percentage points (+6.5% for HEI against -74.1% for OIO). Note the risk asymmetry: OIO runs 3.7 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.
HEI vs OIO: side by side
| HEI (Heico Corporation) | OIO (OIO Group) | |
|---|---|---|
| 1-year return | +6.5% | -74.1% |
| 5-year return | +169.4% | -93.0% |
| Volatility (ann.) | 27.5% | 100.9% |
| Beta vs S&P 500 | 0.85 | 0.48 |
| Max drawdown (3Y) | -27.1% | -87.4% |
| Market cap | – | $0.7B |
| P/E (trailing) | 57.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HEI | OIO |
|---|---|---|
| 2022 | +6.7% | – |
| 2023 | +16.6% | -93.1% |
| 2024 | +33.1% | +91.1% |
| 2025 | +36.2% | +200.8% |
| 2026 | +4.2% | -82.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HEI and OIO good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HEI and OIO?
As of 2026-08-27, the correlation of weekly returns between HEI and OIO is 0.29 over 3 years, 0.26 over 1 year and 0.26 over 5 years.
Is OIO a good diversifier for HEI?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
A reading of 0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hei-vs-oio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/hei-vs-oio/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: HEI correlations · OIO correlations
