CENX vs. AA
CENX (Century Aluminum Company) and AA (Alcoa Corporation) are both stocks. Both operate in the Aluminum industry within the Basic Materials sector. Over the past 5 years, CENX returned 25.19%/yr vs 3.44%/yr for AA. Their 0.71 correlation means they have sometimes moved together and sometimes differently.
Performance
CENX vs. AA - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, CENX achieves a 14.27% return, which is significantly higher than AA's -14.55% return.
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%
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%
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 |
CENX vs. AA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CENX Century Aluminum Company | 14.27% | 115.04% | 50.08% | 48.41% | -50.60% | 50.14% | 46.77% | 2.80% | -62.78% | 129.44% |
AA Alcoa Corporation | -14.55% | 42.46% | 12.43% | -24.33% | -23.12% | 159.05% | 7.16% | -19.07% | -50.66% | 91.84% |
Correlation
The correlation between CENX and AA 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 CENX and AA has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.
Fundamentals
CENX:
$4.43B
AA:
$11.94B
CENX:
$3.48
AA:
$4.86
CENX:
12.88
AA:
9.32
CENX:
0.04
AA:
0.02
CENX:
1.77
AA:
0.87
CENX:
4.07
AA:
1.62
CENX:
$2.54B
AA:
$13.60B
CENX:
$322.30M
AA:
$876.00M
CENX:
$466.30M
AA:
$1.99B
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
CENX vs. AA — Risk / Return Rank
CENX
AA
CENX vs. AA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Century Aluminum Company (CENX) and Alcoa Corporation (AA). 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.
| CENX | AA | 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 | 1.29 | 1.19 | +0.10 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 1.08 | +1.75 |
| Martin ratioReturn relative to average drawdown | 7.73 | 3.25 | +4.48 |
Loading charts...
Drawdowns
CENX vs. AA - Drawdown Comparison
The maximum CENX drawdown since its inception was -98.67%, which is greater than AA's maximum drawdown of -90.90%. Use the drawdown chart below to compare losses from any high point for CENX and AA.
Loading charts...
Drawdown Indicators
| CENX | AA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -98.67% | -90.90% | -7.77% |
Max Drawdown (1Y)Largest decline over 1 year | -39.65% | -48.82% | +9.17% |
Max Drawdown (3Y)Largest decline over 3 years | -42.77% | -52.25% | +9.48% |
Max Drawdown (5Y)Largest decline over 5 years | -82.10% | -75.46% | -6.64% |
Max Drawdown (10Y)Largest decline over 10 years | -87.51% | — | — |
Current DrawdownCurrent decline from peak | -44.03% | -50.16% | +6.13% |
Average DrawdownAverage peak-to-trough decline | -61.03% | -46.10% | -14.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.47% | 16.20% | -1.73% |
Volatility
CENX vs. AA - Volatility Comparison
Century Aluminum Company (CENX) has a higher volatility of 13.92% compared to Alcoa Corporation (AA) at 11.93%. This indicates that CENX's price experiences larger fluctuations and is considered to be riskier than AA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| CENX | AA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 13.92% | 11.93% | +1.99% |
Volatility (6M)Calculated over the trailing 6-month period | 47.32% | 41.10% | +6.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 64.30% | 55.66% | +8.64% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 71.84% | 56.16% | +15.68% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 70.39% | 55.63% | +14.76% |
Dividends
CENX vs. AA - Dividend Comparison
CENX has not paid dividends to shareholders, while AA's dividend yield for the trailing twelve months is around 0.88%.
| 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
CENX vs. AA - Financials Comparison
This section allows you to compare key financial metrics between Century Aluminum Company and Alcoa 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
CENX vs. AA - Profitability Comparison
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 - 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 - 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 - 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 - 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%.
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%.
Frequently Asked Questions
CENX and AA 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, CENX dropped -98.67% vs AA's -90.90%.
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.
Find the right allocation for CENX and AA
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