AIR vs. KMX
AIR (AAR Corp.) and KMX (CarMax, Inc.) are both stocks. AIR operates in Aerospace & Defense (Industrials), while KMX operates in Auto & Truck Dealerships (Consumer Cyclical). Over the past 10 years, AIR returned 17.24%/yr vs -0.36%/yr for KMX. At a 0.32 correlation, their price movements are largely independent.
Performance
AIR vs. KMX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, AIR achieves a 38.57% return, which is significantly higher than KMX's 22.93% return. Over the past 10 years, AIR has outperformed KMX with an annualized return of 17.24%, while KMX has yielded a comparatively lower -0.36% annualized return.
AIR
- 1D
- -1.65%
- 1M
- -2.60%
- YTD
- 38.57%
- 6M
- 41.40%
- 1Y
- 71.53%
- 3Y*
- 27.63%
- 5Y*
- 23.30%
- 10Y*
- 17.24%
KMX
- 1D
- 0.74%
- 1M
- 17.75%
- YTD
- 22.93%
- 6M
- 20.99%
- 1Y
- -27.71%
- 3Y*
- -15.53%
- 5Y*
- -16.21%
- 10Y*
- -0.36%
AIR vs. KMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AIR AAR Corp. | 38.57% | 35.10% | -1.79% | 38.98% | 15.04% | 7.76% | -19.25% | 21.74% | -4.31% | 19.89% |
KMX CarMax, Inc. | 22.93% | -52.74% | 6.54% | 26.03% | -53.24% | 37.87% | 7.74% | 39.76% | -2.18% | -0.40% |
Correlation
The correlation between AIR and KMX is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.28 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.34 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.35 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.37 |
Correlation (All Time) Calculated using the full available price history since Feb 5, 1997 | 0.32 |
Fundamentals
AIR:
$4.36B
KMX:
$7.01B
AIR:
$4.63
KMX:
$1.66
AIR:
24.80
KMX:
28.69
AIR:
1.35
KMX:
0.27
AIR:
2.65
KMX:
1.19
AIR:
$3.13B
KMX:
$25.88B
AIR:
$595.50M
KMX:
$2.81B
AIR:
$214.30M
KMX:
$768.58M
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
AIR vs. KMX — Risk / Return Rank
AIR
KMX
AIR vs. KMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AAR Corp. (AIR) and CarMax, Inc. (KMX). 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.
| AIR | KMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.31 | ||
| Sortino ratioReturn per unit of downside risk | +2.94 | ||
| Omega ratioGain probability vs. loss probability | 1.31 | 0.94 | +0.37 |
| Calmar ratioReturn relative to maximum drawdown | 3.61 | -0.49 | +4.10 |
| Martin ratioReturn relative to average drawdown | 8.54 | -0.77 | +9.31 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| AIR | KMX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.78 | -0.53 | +2.31 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.66 | -0.37 | +1.03 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.38 | -0.01 | +0.39 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 0.11 | +0.06 |
Drawdowns
AIR vs. KMX - Drawdown Comparison
The maximum AIR drawdown since its inception was -89.04%, roughly equal to the maximum KMX drawdown of -93.19%. Use the drawdown chart below to compare losses from any high point for AIR and KMX.
Loading charts...
Drawdown Indicators
| AIR | KMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -89.04% | -93.19% | +4.15% |
Max Drawdown (1Y)Largest decline over 1 year | -19.92% | -56.85% | +36.93% |
Max Drawdown (3Y)Largest decline over 3 years | -35.72% | -65.38% | +29.66% |
Max Drawdown (5Y)Largest decline over 5 years | -35.72% | -80.06% | +44.34% |
Max Drawdown (10Y)Largest decline over 10 years | -81.77% | -80.06% | -1.71% |
Current DrawdownCurrent decline from peak | -8.95% | -69.33% | +60.38% |
Average DrawdownAverage peak-to-trough decline | -34.70% | -31.74% | -2.96% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.40% | 36.04% | -27.64% |
Volatility
AIR vs. KMX - Volatility Comparison
AAR Corp. (AIR) has a higher volatility of 12.70% compared to CarMax, Inc. (KMX) at 11.99%. This indicates that AIR's price experiences larger fluctuations and is considered to be riskier than KMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| AIR | KMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 12.70% | 11.99% | +0.71% |
Volatility (6M)Calculated over the trailing 6-month period | 31.17% | 34.46% | -3.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 40.51% | 52.71% | -12.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 35.32% | 44.23% | -8.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 45.27% | 40.53% | +4.74% |
Dividends
AIR vs. KMX - Dividend Comparison
Neither AIR nor KMX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AIR AAR Corp. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.41% | 0.67% | 0.80% | 0.76% | 0.91% | 1.14% |
KMX CarMax, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
AIR vs. KMX - Financials Comparison
This section allows you to compare key financial metrics between AAR Corp. and CarMax, Inc.. 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
AIR vs. KMX - Profitability Comparison
AIR - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, AAR Corp. reported a gross profit of 154.70M and revenue of 845.10M. Therefore, the gross margin over that period was 18.3%.
KMX - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, CarMax, Inc. reported a gross profit of 420.20M and revenue of 4.52B. Therefore, the gross margin over that period was 9.3%.
AIR - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, AAR Corp. reported an operating income of 64.80M and revenue of 845.10M, resulting in an operating margin of 7.7%.
KMX - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, CarMax, Inc. reported an operating income of -339.44M and revenue of 4.52B, resulting in an operating margin of -7.5%.
AIR - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, AAR Corp. reported a net income of 68.00M and revenue of 845.10M, resulting in a net margin of 8.1%.
KMX - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, CarMax, Inc. reported a net income of -120.68M and revenue of 4.52B, resulting in a net margin of -2.7%.
Frequently Asked Questions
AIR and KMX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
AIR has higher volatility (12.70%) compared to KMX (11.99%). In terms of maximum drawdown, AIR dropped -89.04% vs KMX's -93.19%.
AIR currently has the higher Sharpe Ratio (1.78 vs -0.53), 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.
Find the right allocation for AIR and KMX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer