AA vs. CENX
AA (Alcoa Corporation) and CENX (Century Aluminum Company) are both stocks. Both operate in the Aluminum industry within the Basic Materials sector. Over the past 5 years, AA returned 3.44%/yr vs 25.19%/yr for CENX. Their 0.71 correlation means they have sometimes moved together and sometimes differently.
Performance
AA vs. CENX - Performance Comparison
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Returns By Period
In the year-to-date period, AA achieves a -14.55% return, which is significantly lower than CENX's 14.27% return.
AA
- 1D
- 0.64%
- 1M
- -7.03%
- 6M
- -20.07%
- YTD
- -14.55%
- 1Y
- 60.86%
- 3Y*
- 10.03%
- 5Y*
- 3.44%
- 10Y*
- —
- ALL TIME*
- 8.22%
CENX
- 1D
- -0.25%
- 1M
- 2.31%
- 6M
- -1.24%
- YTD
- 14.27%
- 1Y
- 118.71%
- 3Y*
- 69.21%
- 5Y*
- 25.19%
- 10Y*
- 20.79%
- ALL TIME*
- 4.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $224.13M | $268.35M | $320.12M | |
| $78.09M | $78.34M | $110.32M |
AA vs. CENX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AA Alcoa Corporation | -14.55% | 42.46% | 12.43% | -24.33% | -23.12% | 159.05% | 7.16% | -19.07% | -50.66% | 91.84% |
CENX Century Aluminum Company | 14.27% | 115.04% | 50.08% | 48.41% | -50.60% | 50.14% | 46.77% | 2.80% | -62.78% | 129.44% |
Correlation
The correlation between AA and CENX is 0.68, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.68 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Nov 1, 2016 | 0.71 |
The correlation between AA and CENX has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
Fundamentals
AA:
$11.94B
CENX:
$4.43B
AA:
$4.86
CENX:
$3.48
AA:
9.32
CENX:
12.88
AA:
0.02
CENX:
0.04
AA:
0.87
CENX:
1.77
AA:
1.62
CENX:
4.07
AA:
$13.60B
CENX:
$2.54B
AA:
$876.00M
CENX:
$322.30M
AA:
$1.99B
CENX:
$466.30M
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Return for Risk
AA vs. CENX — Risk / Return Rank
AA
CENX
AA vs. CENX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alcoa Corporation (AA) and Century Aluminum Company (CENX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AA | CENX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.80 | ||
| Sortino ratioReturn per unit of downside risk | -0.70 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.29 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 1.08 | 2.82 | -1.75 |
| Martin ratioReturn relative to average drawdown | 3.25 | 7.73 | -4.48 |
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Drawdowns
AA vs. CENX - Drawdown Comparison
The maximum AA drawdown since its inception was -90.90%, smaller than the maximum CENX drawdown of -98.67%. Use the drawdown chart below to compare losses from any high point for AA and CENX.
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Drawdown Indicators
| AA | CENX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -90.90% | -98.67% | +7.77% |
Max Drawdown (1Y)Largest decline over 1 year | -48.82% | -39.65% | -9.17% |
Max Drawdown (3Y)Largest decline over 3 years | -52.25% | -42.77% | -9.48% |
Max Drawdown (5Y)Largest decline over 5 years | -75.46% | -82.10% | +6.64% |
Max Drawdown (10Y)Largest decline over 10 years | — | -87.51% | — |
Current DrawdownCurrent decline from peak | -50.16% | -44.03% | -6.13% |
Average DrawdownAverage peak-to-trough decline | -46.10% | -61.03% | +14.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.20% | 14.47% | +1.73% |
Volatility
AA vs. CENX - Volatility Comparison
The current volatility for Alcoa Corporation (AA) is 11.93%, while Century Aluminum Company (CENX) has a volatility of 13.92%. This indicates that AA experiences smaller price fluctuations and is considered to be less risky than CENX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AA | CENX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.93% | 13.92% | -1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 41.10% | 47.32% | -6.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 55.66% | 64.30% | -8.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 56.16% | 71.84% | -15.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 55.63% | 70.39% | -14.76% |
Dividends
AA vs. CENX - Dividend Comparison
AA's dividend yield for the trailing twelve months is around 0.88%, while CENX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
AA Alcoa Corporation | 0.88% | 0.75% | 1.06% | 1.18% | 0.88% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.32% |
CENX Century Aluminum Company | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
AA vs. CENX - Financials Comparison
This section allows you to compare key financial metrics between Alcoa Corporation and Century Aluminum Company. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
AA vs. CENX - Profitability Comparison
AA - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Alcoa Corporation reported a gross profit of -681.00M and revenue of 3.97B. Therefore, the gross margin over that period was -17.2%.
CENX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, Century Aluminum Company reported a gross profit of 118.80M and revenue of 649.20M. Therefore, the gross margin over that period was 18.3%.
AA - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Alcoa Corporation reported an operating income of -426.00M and revenue of 3.97B, resulting in an operating margin of -10.7%.
CENX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, Century Aluminum Company reported an operating income of 374.00M and revenue of 649.20M, resulting in an operating margin of 57.6%.
AA - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Alcoa Corporation reported a net income of 407.00M and revenue of 3.97B, resulting in a net margin of 10.3%.
CENX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, Century Aluminum Company reported a net income of 337.50M and revenue of 649.20M, resulting in a net margin of 52.0%.
Frequently Asked Questions
AA and CENX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CENX has higher volatility (13.92%) compared to AA (11.93%). In terms of maximum drawdown, AA dropped -90.90% vs CENX's -98.67%.
CENX currently has the higher Sharpe Ratio (1.74 vs 0.95), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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