Market snapshot, not real-time
S&P 500 (SPY) $748.62 +0.88% Nasdaq-100 (QQQ) $708.90 +1.85% Dow (DIA) $522.55 +0.89% Russell 2000 (IWM) $295.82 +1.20% 10-Year Treasury (IEF) $93.32 −0.23% Crude Oil (USO) $128.37 +2.28% Gold (GLD) $373.85 +1.70% US Dollar Index (UUP) $28.45 +0.23% Volatility (VXX) $21.29 −3.77% Semiconductors (SMH) $583.24 +4.37% Silver (SLV) $53.36 +4.67% Emerging Markets (EEM) $65.45 +2.97% Bitcoin (BTC) $66,470.13 +1.90% Ethereum (ETH) $1,922.88 +1.00% S&P 500 (SPY) $748.62 +0.88% Nasdaq-100 (QQQ) $708.90 +1.85% Dow (DIA) $522.55 +0.89% Russell 2000 (IWM) $295.82 +1.20% 10-Year Treasury (IEF) $93.32 −0.23% Crude Oil (USO) $128.37 +2.28% Gold (GLD) $373.85 +1.70% US Dollar Index (UUP) $28.45 +0.23% Volatility (VXX) $21.29 −3.77% Semiconductors (SMH) $583.24 +4.37% Silver (SLV) $53.36 +4.67% Emerging Markets (EEM) $65.45 +2.97% Bitcoin (BTC) $66,470.13 +1.90% Ethereum (ETH) $1,922.88 +1.00%
AEACapital Research

Independent student research — not an investment firm or financial advice

Tool · Risk · No login

The Volatility & Correlation Engine

AEA's Holdings page publishes one static correlation matrix, computed once. This tool is the same math, but live and on demand: pick any two of AEA's 31 real holdings with enough trading history, and it computes real annualized volatility and real pairwise correlation from the same daily closes that already power each position's own price chart — nothing fetched, nothing fabricated.

Runs entirely in your browser against a static dataset already published on this site. Nothing is sent anywhere.

Compare two holdings

Covers the 31 of AEA's 32 real holdings with enough real price history to compute a meaningful figure (SPCX is excluded — too new for a real volatility number yet).

vs.

What this is actually computing

Annualized volatility is the standard deviation of daily log returns, scaled by √252 to put it on a yearly basis — the same formula used throughout the Leverage Decay Study. Correlation is the Pearson correlation of daily returns over however many trading days both tickers have in common — the same formula behind the sample averages in The Concentration Premium, just runnable on any pair instead of a fixed sample.

Why this exists

The published correlation matrix on Holdings is a full 32×32 grid, but it's a lot to scan for one specific question: "how much do these two names actually move together?" This tool answers that one question directly, and doubles as the live engine behind the sampling argument in The Concentration Premium — go verify any of those sampled pairs yourself.

Methodology & limitations

Data source. Real daily closing prices, extracted directly from each position's own published price-chart data (the same series rendered on positions/{TICKER}.html). No live API call is made by this tool — it reads a static file, research/_data/price_history.json, built once from that already-published data.

Window length varies by ticker. Newer positions (recent IPOs, newly-added names) have shorter real price histories — as little as 57 trading days for the newest name, versus 125 for the longest-tracked. Correlation and volatility are both computed only over the overlapping window both tickers actually share, so a comparison involving a newer name is a shorter, noisier estimate than one between two long-tracked names. That's stated plainly rather than smoothed over.

Formulas. Annualized volatility = stdev(daily log returns) × √252. Correlation = Pearson correlation of daily log returns over the shared window.

Not investment advice. Nothing here is a recommendation to buy, sell, or avoid any security.