MU vs. AIR

Last updated Jun 13, 2026

MU (Micron Technology, Inc.) and AIR (AAR Corp.) are both stocks. MU operates in Semiconductors (Technology), while AIR operates in Aerospace & Defense (Industrials). Over the past 10 years, MU returned 55.83%/yr vs 19.16%/yr for AIR. At a 0.26 correlation, their price movements are largely independent.

Performance

MU vs. AIR - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Micron Technology, Inc. (MU) and AAR Corp. (AIR). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MU achieves a 244.07% return, which is significantly higher than AIR's 55.83% return. Over the past 10 years, MU has outperformed AIR with an annualized return of 55.83%, while AIR has yielded a comparatively lower 19.16% annualized return.

MU

• 1D: -1.43%
• 1M: 35.46%
• YTD: 244.07%
• 6M: 307.41%
• 1Y: 751.18%
• 3Y*: 144.69%
• 5Y*: 66.21%
• 10Y*: 55.83%

AIR

• 1D: 1.40%
• 1M: 23.40%
• YTD: 55.83%
• 6M: 54.17%
• 1Y: 87.98%
• 3Y*: 32.00%
• 5Y*: 25.72%
• 10Y*: 19.16%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MU vs. AIR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MU Micron Technology, Inc.	244.07%	240.24%	-0.96%	71.93%	-45.93%	24.21%	39.79%	69.49%	-22.84%	87.59%
AIR AAR Corp.	55.83%	35.10%	-1.79%	38.98%	15.04%	7.76%	-19.25%	21.74%	-4.31%	19.89%

Correlation

The correlation between MU and AIR is 0.25, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.25
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.35
Correlation (All Time) Calculated using the full available price history since May 16, 1989	0.26

The correlation between MU and AIR shifts across timeframes, from 0.25 (1 year) to 0.35 (10 years), reflecting how their relationship changes across market environments.

Fundamentals

Market Cap MU : $1.12T AIR : $4.90B
EPS MU : $21.26 AIR : $4.63
PE Ratio MU : 46.18 AIR : 27.89
PEG Ratio MU : 0.17 AIR : 9.76
PS Ratio MU : 19.16 AIR : 1.52
PB Ratio MU : 15.44 AIR : 2.98
Total Revenue (TTM) MU : $58.12B AIR : $3.13B
Gross Profit (TTM) MU : $33.96B AIR : $595.50M
EBITDA (TTM) MU : $25.99B AIR : $214.30M

Return for Risk

MU vs. AIR — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MU

MU Risk / Return Rank: 99
MU Sharpe Ratio Rank: 100
MU Sortino Ratio Rank: 99
MU Omega Ratio Rank: 98
MU Calmar Ratio Rank: 100
MU Martin Ratio Rank: 100

AIR

AIR Risk / Return Rank: 89
AIR Sharpe Ratio Rank: 90
AIR Sortino Ratio Rank: 89
AIR Omega Ratio Rank: 86
AIR Calmar Ratio Rank: 91
AIR Martin Ratio Rank: 89

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MU vs. AIR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Micron Technology, Inc. (MU) and AAR Corp. (AIR). 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.

	MU	AIR	Difference
Sharpe ratio: Return per unit of total volatility	10.83	2.12	+8.71
Sortino ratio: Return per unit of downside risk	6.14	2.90	+3.24
Omega ratio: Gain probability vs. loss probability	1.78	1.35	+0.43
Calmar ratio: Return relative to maximum drawdown	24.91	4.42	+20.49
Martin ratio: Return relative to average drawdown	94.64	10.44	+84.20

MU vs. AIR - Sharpe Ratio Comparison

The current MU Sharpe Ratio is 10.83, which is higher than the AIR Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of MU and AIR, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MU vs. AIR - Drawdown Comparison

The maximum MU drawdown since its inception was -98.25%, which is greater than AIR's maximum drawdown of -89.04%. Use the drawdown chart below to compare losses from any high point for MU and AIR.

Drawdown Indicators

	MU	AIR	Difference
Max Drawdown Largest peak-to-trough decline	-98.25%	-89.04%	-9.21%
Max Drawdown (1Y) Largest decline over 1 year	-30.28%	-19.92%	-10.36%
Max Drawdown (3Y) Largest decline over 3 years	-57.63%	-35.72%	-21.91%
Max Drawdown (5Y) Largest decline over 5 years	-57.63%	-35.72%	-21.91%
Max Drawdown (10Y) Largest decline over 10 years	-57.63%	-81.77%	+24.14%
Current Drawdown Current decline from peak	-9.07%	0.00%	-9.07%
Average Drawdown Average peak-to-trough decline	-58.16%	-34.68%	-23.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.95%	8.42%	-0.47%

Volatility

MU vs. AIR - Volatility Comparison

Micron Technology, Inc. (MU) has a higher volatility of 32.86% compared to AAR Corp. (AIR) at 14.13%. This indicates that MU's price experiences larger fluctuations and is considered to be riskier than AIR based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MU	AIR	Difference
Volatility (1M) Calculated over the trailing 1-month period	32.86%	14.13%	+18.73%
Volatility (6M) Calculated over the trailing 6-month period	57.74%	32.19%	+25.55%
Volatility (1Y) Calculated over the trailing 1-year period	69.66%	41.57%	+28.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	53.18%	35.51%	+17.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	50.12%	45.35%	+4.77%

Dividends

MU vs. AIR - Dividend Comparison

MU's dividend yield for the trailing twelve months is around 0.05%, while AIR has not 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%
MU Micron Technology, Inc.	0.05%	0.16%	0.55%	0.54%	0.89%	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

MU vs. AIR - Profitability Comparison

The chart below illustrates the profitability comparison between Micron Technology, Inc. and AAR Corp. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

MU - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Micron Technology, Inc. reported a gross profit of 17.75B and revenue of 23.86B. Therefore, the gross margin over that period was 74.4%.

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%.

MU - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Micron Technology, Inc. reported an operating income of 16.13B and revenue of 23.86B, resulting in an operating margin of 67.6%.

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%.

MU - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Micron Technology, Inc. reported a net income of 13.79B and revenue of 23.86B, resulting in a net margin of 57.8%.

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%.

Frequently Asked Questions

Can I hold both MU and AIR in my portfolio?

MU and AIR have a correlation of 0.25, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MU or AIR?

MU has higher volatility (32.86%) compared to AIR (14.13%). In terms of maximum drawdown, MU dropped -98.25% vs AIR's -89.04%.

Which has better risk-adjusted returns?

MU currently has the higher Sharpe Ratio (10.83 vs 2.12), 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.