AAOI vs. BWET
AAOI (Applied Optoelectronics, Inc.) is a stock, while BWET (Breakwave Tanker Shipping ETF) is Commodities fund tracking the Breakwave Wet Freight Futures Index. Over the past 3 years, AAOI returned 115.52%/yr vs 135.18%/yr for BWET. Their 0.04 correlation means their historical movements had little consistent relationship.
Performance
AAOI vs. BWET - Performance Comparison
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Returns By Period
In the year-to-date period, AAOI achieves a 216.15% return, which is significantly lower than BWET's 1,246.34% return.
AAOI
- 1D
- 16.85%
- 1M
- -8.88%
- 6M
- 149.57%
- YTD
- 216.15%
- 1Y
- 411.89%
- 3Y*
- 115.52%
- 5Y*
- 70.23%
- 10Y*
- 22.24%
- ALL TIME*
- 20.53%
BWET
- 1D
- -3.40%
- 1M
- 52.08%
- 6M
- 619.27%
- YTD
- 1,246.34%
- 1Y
- 2,150.47%
- 3Y*
- 135.18%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 144.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $928.93M | $935.24M | $1.83B | |
| $45.42M | $38.94M | $29.75M |
AAOI vs. BWET - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
AAOI Applied Optoelectronics, Inc. | 216.15% | -5.43% | 90.79% | 944.32% |
BWET Breakwave Tanker Shipping ETF | 1,246.34% | 96.22% | -39.21% | 14.13% |
Correlation
The correlation between AAOI and BWET is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 3, 2023 | 0.04 |
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Return for Risk
AAOI vs. BWET — Risk / Return Rank
AAOI
BWET
AAOI vs. BWET - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Applied Optoelectronics, Inc. (AAOI) and Breakwave Tanker Shipping ETF (BWET). 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.
| AAOI | BWET | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -17.31 | ||
| Sortino ratioReturn per unit of downside risk | -3.12 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.91 | -0.55 |
| Calmar ratioReturn relative to maximum drawdown | 6.32 | 52.86 | -46.54 |
| Martin ratioReturn relative to average drawdown | 18.10 | 198.46 | -180.36 |
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Drawdowns
AAOI vs. BWET - Drawdown Comparison
The maximum AAOI drawdown since its inception was -98.49%, which is greater than BWET's maximum drawdown of -56.90%. Use the drawdown chart below to compare losses from any high point for AAOI and BWET.
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Drawdown Indicators
| AAOI | BWET | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.49% | -56.90% | -41.59% |
Max Drawdown (1Y)Largest decline over 1 year | -65.70% | -41.22% | -24.48% |
Max Drawdown (3Y)Largest decline over 3 years | -77.17% | -56.81% | -20.36% |
Max Drawdown (5Y)Largest decline over 5 years | -82.64% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -98.49% | — | — |
Current DrawdownCurrent decline from peak | -50.60% | -3.40% | -47.20% |
Average DrawdownAverage peak-to-trough decline | -65.44% | -23.38% | -42.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 22.89% | 10.96% | +11.93% |
Volatility
AAOI vs. BWET - Volatility Comparison
Applied Optoelectronics, Inc. (AAOI) has a higher volatility of 43.45% compared to Breakwave Tanker Shipping ETF (BWET) at 31.04%. This indicates that AAOI's price experiences larger fluctuations and is considered to be riskier than BWET based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAOI | BWET | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 43.45% | 31.04% | +12.41% |
Volatility (6M)Calculated over the trailing 6-month period | 111.84% | 95.74% | +16.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 144.63% | 108.15% | +36.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 121.54% | 74.45% | +47.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 99.50% | 74.45% | +25.05% |
Dividends
AAOI vs. BWET - Dividend Comparison
Neither AAOI nor BWET has paid dividends to shareholders.
Frequently Asked Questions
AAOI and BWET have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAOI has higher volatility (43.45%) compared to BWET (31.04%). In terms of maximum drawdown, AAOI dropped -98.49% vs BWET's -56.90%.
BWET currently has the higher Sharpe Ratio (20.19 vs 2.88), 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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