NEOV vs. AIR

Last updated Jun 24, 2026

NEOV (NeoVolta Inc. Common Stock) and AIR (AAR Corp.) are both stocks. Both are in the Industrials sector — NEOV in Electrical Equipment & Parts, AIR in Aerospace & Defense. Over the past 5 years, NEOV returned -21.10%/yr vs 27.14%/yr for AIR. At a 0.09 correlation, their price movements are largely independent.

Performance

NEOV vs. AIR - Performance Comparison

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

Returns By Period

In the year-to-date period, NEOV achieves a -29.61% return, which is significantly lower than AIR's 59.75% return.

NEOV

• 1D: -9.70%
• 1M: -30.29%
• YTD: -29.61%
• 6M: -33.75%
• 1Y: -26.71%
• 3Y*: -16.83%
• 5Y*: -21.10%
• 10Y*: —

AIR

• 1D: -1.50%
• 1M: 22.00%
• YTD: 59.75%
• 6M: 54.80%
• 1Y: 93.45%
• 3Y*: 33.88%
• 5Y*: 27.14%
• 10Y*: 19.40%

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

NEOV vs. AIR - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
NEOV NeoVolta Inc. Common Stock	-29.61%	-41.65%	225.62%	-42.65%	-60.20%	60.78%	45.33%
AIR AAR Corp.	59.75%	35.10%	-1.79%	38.98%	15.04%	7.76%	111.44%

Correlation

The correlation between NEOV and AIR is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.12
Correlation (5Y) Calculated over the trailing 5-year period	0.11
Correlation (All Time) Calculated using the full available price history since May 20, 2020	0.09

Fundamentals

Market Cap NEOV : $86.01M AIR : $5.03B
EPS NEOV : -$0.32 AIR : $4.63
PS Ratio NEOV : 4.78 AIR : 1.56
PB Ratio NEOV : 3.88 AIR : 3.06
Total Revenue (TTM) NEOV : $16.05M AIR : $3.13B
Gross Profit (TTM) NEOV : $3.74M AIR : $595.50M
EBITDA (TTM) NEOV : -$9.07M AIR : $214.30M

Return for Risk

NEOV vs. AIR — Risk / Return Rank

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

NEOV

NEOV Risk / Return Rank: 38
NEOV Sharpe Ratio Rank: 34
NEOV Sortino Ratio Rank: 47
NEOV Omega Ratio Rank: 46
NEOV Calmar Ratio Rank: 31
NEOV Martin Ratio Rank: 30

AIR

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

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.

NEOV vs. AIR - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NeoVolta Inc. Common Stock (NEOV) 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.

	NEOV	AIR	Difference
Sharpe ratio: Return per unit of total volatility	-0.21	2.26	-2.46
Sortino ratio: Return per unit of downside risk	0.61	3.03	-2.42
Omega ratio: Gain probability vs. loss probability	1.07	1.36	-0.29
Calmar ratio: Return relative to maximum drawdown	-0.36	4.72	-5.08
Martin ratio: Return relative to average drawdown	-0.70	11.14	-11.84

NEOV vs. AIR - Sharpe Ratio Comparison

The current NEOV Sharpe Ratio is -0.21, which is lower than the AIR Sharpe Ratio of 2.26. The chart below compares the historical Sharpe Ratios of NEOV 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

NEOV vs. AIR - Drawdown Comparison

The maximum NEOV drawdown since its inception was -90.38%, roughly equal to the maximum AIR drawdown of -89.04%. Use the drawdown chart below to compare losses from any high point for NEOV and AIR.

Drawdown Indicators

	NEOV	AIR	Difference
Max Drawdown Largest peak-to-trough decline	-90.38%	-89.04%	-1.34%
Max Drawdown (1Y) Largest decline over 1 year	-73.60%	-19.92%	-53.68%
Max Drawdown (3Y) Largest decline over 3 years	-81.60%	-35.72%	-45.88%
Max Drawdown (5Y) Largest decline over 5 years	-90.38%	-35.72%	-54.66%
Max Drawdown (10Y) Largest decline over 10 years	—	-81.77%	—
Current Drawdown Current decline from peak	-70.15%	-1.94%	-68.21%
Average Drawdown Average peak-to-trough decline	-40.01%	-34.66%	-5.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	38.04%	8.42%	+29.62%

Volatility

NEOV vs. AIR - Volatility Comparison

NeoVolta Inc. Common Stock (NEOV) has a higher volatility of 51.41% compared to AAR Corp. (AIR) at 11.90%. This indicates that NEOV'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

	NEOV	AIR	Difference
Volatility (1M) Calculated over the trailing 1-month period	51.41%	11.90%	+39.51%
Volatility (6M) Calculated over the trailing 6-month period	109.91%	32.19%	+77.72%
Volatility (1Y) Calculated over the trailing 1-year period	128.55%	41.66%	+86.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	95.78%	35.49%	+60.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	91.07%	45.36%	+45.71%

Dividends

NEOV vs. AIR - Dividend Comparison

Neither NEOV nor AIR 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%
NEOV NeoVolta Inc. Common Stock	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

Frequently Asked Questions

Can I hold both NEOV and AIR in my portfolio?

NEOV and AIR 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.

Which is riskier, NEOV or AIR?

NEOV has higher volatility (51.41%) compared to AIR (11.90%). In terms of maximum drawdown, NEOV dropped -90.38% vs AIR's -89.04%.

Which has better risk-adjusted returns?

AIR currently has the higher Sharpe Ratio (2.26 vs -0.21), 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.