AAON vs. SPXC
AAON (AAON, Inc.) and SPXC (SPX Corporation) are both stocks. Both are in the Industrials sector — AAON in Building Products & Equipment, SPXC in Specialty Industrial Machinery. Over the past 10 years, AAON returned 22.73%/yr vs 30.96%/yr for SPXC. At a 0.33 correlation, their price movements are largely independent.
Performance
AAON vs. SPXC - Performance Comparison
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Returns By Period
In the year-to-date period, AAON achieves a 73.52% return, which is significantly higher than SPXC's 14.94% return. Over the past 10 years, AAON has underperformed SPXC with an annualized return of 22.73%, while SPXC has yielded a comparatively higher 30.96% annualized return.
AAON
- 1D
- -0.43%
- 1M
- -5.38%
- YTD
- 73.52%
- 6M
- 59.35%
- 1Y
- 37.17%
- 3Y*
- 28.06%
- 5Y*
- 25.74%
- 10Y*
- 22.73%
SPXC
- 1D
- 0.94%
- 1M
- 13.37%
- YTD
- 14.94%
- 6M
- 11.54%
- 1Y
- 45.81%
- 3Y*
- 39.57%
- 5Y*
- 30.08%
- 10Y*
- 30.96%
AAON vs. SPXC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AAON AAON, Inc. | 73.52% | -34.91% | 59.88% | 47.86% | -4.55% | 19.84% | 35.71% | 41.88% | -3.59% | 11.84% |
SPXC SPX Corporation | 14.94% | 37.48% | 44.06% | 53.86% | 10.00% | 9.42% | 7.19% | 81.65% | -10.77% | 32.34% |
Correlation
The correlation between AAON and SPXC is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.47 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.52 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.55 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.54 |
Correlation (All Time) Calculated using the full available price history since Dec 17, 1992 | 0.33 |
The correlation between AAON and SPXC shifts across timeframes, from 0.33 (all time) to 0.55 (5 years), reflecting how their relationship changes across market environments.
Fundamentals
AAON:
$10.98B
SPXC:
$11.62B
AAON:
$1.42
SPXC:
$5.19
AAON:
92.85
SPXC:
44.32
AAON:
3.71
SPXC:
0.01
AAON:
6.78
SPXC:
4.78
AAON:
11.76
SPXC:
5.08
AAON:
$1.62B
SPXC:
$2.35B
AAON:
$424.33M
SPXC:
$909.30M
AAON:
$228.54M
SPXC:
$475.30M
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Return for Risk
AAON vs. SPXC — Risk / Return Rank
AAON
SPXC
AAON vs. SPXC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AAON, Inc. (AAON) and SPX Corporation (SPXC). 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.
| AAON | SPXC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -0.58 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.23 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 1.21 | 1.99 | -0.77 |
| Martin ratioReturn relative to average drawdown | 2.48 | 5.09 | -2.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| AAON | SPXC | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.59 | 1.26 | -0.67 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.57 | 0.86 | -0.29 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.57 | 0.83 | -0.26 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.34 | +0.18 |
Drawdowns
AAON vs. SPXC - Drawdown Comparison
The maximum AAON drawdown since its inception was -76.03%, smaller than the maximum SPXC drawdown of -81.12%. Use the drawdown chart below to compare losses from any high point for AAON and SPXC.
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Drawdown Indicators
| AAON | SPXC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.03% | -81.12% | +5.09% |
Max Drawdown (1Y)Largest decline over 1 year | -30.75% | -23.15% | -7.60% |
Max Drawdown (3Y)Largest decline over 3 years | -48.86% | -33.54% | -15.32% |
Max Drawdown (5Y)Largest decline over 5 years | -48.86% | -38.32% | -10.54% |
Max Drawdown (10Y)Largest decline over 10 years | -48.86% | -50.26% | +1.40% |
Current DrawdownCurrent decline from peak | -10.87% | -5.39% | -5.48% |
Average DrawdownAverage peak-to-trough decline | -19.26% | -29.02% | +9.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.78% | 9.03% | +6.75% |
Volatility
AAON vs. SPXC - Volatility Comparison
AAON, Inc. (AAON) has a higher volatility of 16.69% compared to SPX Corporation (SPXC) at 10.68%. This indicates that AAON's price experiences larger fluctuations and is considered to be riskier than SPXC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AAON | SPXC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 16.69% | 10.68% | +6.01% |
Volatility (6M)Calculated over the trailing 6-month period | 45.22% | 27.88% | +17.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 63.60% | 36.54% | +27.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 45.60% | 35.14% | +10.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 40.37% | 37.46% | +2.91% |
Dividends
AAON vs. SPXC - Dividend Comparison
AAON's dividend yield for the trailing twelve months is around 0.30%, while SPXC has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AAON AAON, Inc. | 0.30% | 0.52% | 0.27% | 0.43% | 0.57% | 0.48% | 0.57% | 0.65% | 0.91% | 0.71% | 0.73% | 0.95% |
SPXC SPX Corporation | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 386.22% |
Financials
AAON vs. SPXC - Financials Comparison
This section allows you to compare key financial metrics between AAON, Inc. and SPX Corporation. 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
AAON vs. SPXC - Profitability Comparison
AAON - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AAON, Inc. reported a gross profit of 124.97M and revenue of 496.94M. Therefore, the gross margin over that period was 25.2%.
SPXC - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, SPX Corporation reported a gross profit of 230.60M and revenue of 566.80M. Therefore, the gross margin over that period was 40.7%.
AAON - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AAON, Inc. reported an operating income of 57.06M and revenue of 496.94M, resulting in an operating margin of 11.5%.
SPXC - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, SPX Corporation reported an operating income of 87.70M and revenue of 566.80M, resulting in an operating margin of 15.5%.
AAON - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AAON, Inc. reported a net income of 39.82M and revenue of 496.94M, resulting in a net margin of 8.0%.
SPXC - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, SPX Corporation reported a net income of 59.90M and revenue of 566.80M, resulting in a net margin of 10.6%.
Frequently Asked Questions
AAON and SPXC have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AAON has higher volatility (16.69%) compared to SPXC (10.68%). In terms of maximum drawdown, AAON dropped -76.03% vs SPXC's -81.12%.
SPXC currently has the higher Sharpe Ratio (1.26 vs 0.59), 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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