OC vs. AAON

Last updated Jun 9, 2026

OC (Owens Corning) and AAON (AAON, Inc.) are both stocks. Both operate in the Building Products & Equipment industry within the Industrials sector. Over the past 10 years, OC returned 10.96%/yr vs 22.73%/yr for AAON. At a 0.45 correlation, their price movements are largely independent.

Performance

OC vs. AAON - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Owens Corning (OC) and AAON, Inc. (AAON). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OC achieves a 7.98% return, which is significantly lower than AAON's 73.52% return. Over the past 10 years, OC has underperformed AAON with an annualized return of 10.96%, while AAON has yielded a comparatively higher 22.73% annualized return.

OC

• 1D: -0.05%
• 1M: -2.08%
• YTD: 7.98%
• 6M: 8.31%
• 1Y: -9.78%
• 3Y*: 2.17%
• 5Y*: 4.96%
• 10Y*: 10.96%

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%

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

OC vs. AAON - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OC Owens Corning	7.98%	-33.02%	16.61%	77.17%	-4.23%	20.93%	18.12%	50.63%	-51.68%	80.33%
AAON AAON, Inc.	73.52%	-34.91%	59.88%	47.86%	-4.55%	19.84%	35.71%	41.88%	-3.59%	11.84%

Correlation

The correlation between OC and AAON is 0.45, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.45
Correlation (3Y) Calculated over the trailing 3-year period	0.49
Correlation (5Y) Calculated over the trailing 5-year period	0.50
Correlation (10Y) Calculated over the trailing 10-year period	0.46
Correlation (All Time) Calculated using the full available price history since Nov 2, 2006	0.45

Fundamentals

EPS OC : -$8.56 AAON : $1.42
PS Ratio OC : 0.75 AAON : 6.78
Total Revenue (TTM) OC : $9.84B AAON : $1.62B
Gross Profit (TTM) OC : $2.65B AAON : $424.33M
EBITDA (TTM) OC : $528.00M AAON : $228.54M

Return for Risk

OC vs. AAON — Risk / Return Rank

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

OC

OC Risk / Return Rank: 31
OC Sharpe Ratio Rank: 31
OC Sortino Ratio Rank: 28
OC Omega Ratio Rank: 28
OC Calmar Ratio Rank: 34
OC Martin Ratio Rank: 33

AAON

AAON Risk / Return Rank: 63
AAON Sharpe Ratio Rank: 62
AAON Sortino Ratio Rank: 63
AAON Omega Ratio Rank: 61
AAON Calmar Ratio Rank: 66
AAON Martin Ratio Rank: 65

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.

OC vs. AAON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Owens Corning (OC) and AAON, Inc. (AAON). 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.

	OC	AAON	Difference
Sharpe ratio: Return per unit of total volatility	-0.27	0.59	-0.86
Sortino ratio: Return per unit of downside risk	-0.16	1.34	-1.50
Omega ratio: Gain probability vs. loss probability	0.98	1.16	-0.18
Calmar ratio: Return relative to maximum drawdown	-0.26	1.21	-1.48
Martin ratio: Return relative to average drawdown	-0.47	2.48	-2.95
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

OC vs. AAON - Sharpe Ratio Comparison

The current OC Sharpe Ratio is -0.27, which is lower than the AAON Sharpe Ratio of 0.59. The chart below compares the historical Sharpe Ratios of OC and AAON, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	OC	AAON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.27	0.59	-0.86
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.14	0.57	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.31	0.57	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.22	0.52	-0.30

Drawdowns

OC vs. AAON - Drawdown Comparison

The maximum OC drawdown since its inception was -85.22%, which is greater than AAON's maximum drawdown of -76.03%. Use the drawdown chart below to compare losses from any high point for OC and AAON.

Drawdown Indicators

	OC	AAON	Difference
Max Drawdown Largest peak-to-trough decline	-85.22%	-76.03%	-9.19%
Max Drawdown (1Y) Largest decline over 1 year	-37.33%	-30.75%	-6.58%
Max Drawdown (3Y) Largest decline over 3 years	-52.48%	-48.86%	-3.62%
Max Drawdown (5Y) Largest decline over 5 years	-52.48%	-48.86%	-3.62%
Max Drawdown (10Y) Largest decline over 10 years	-66.57%	-48.86%	-17.71%
Current Drawdown Current decline from peak	-41.57%	-10.87%	-30.70%
Average Drawdown Average peak-to-trough decline	-20.65%	-19.26%	-1.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	20.65%	15.78%	+4.87%

Volatility

OC vs. AAON - Volatility Comparison

The current volatility for Owens Corning (OC) is 10.99%, while AAON, Inc. (AAON) has a volatility of 16.69%. This indicates that OC experiences smaller price fluctuations and is considered to be less risky than AAON based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OC	AAON	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.99%	16.69%	-5.70%
Volatility (6M) Calculated over the trailing 6-month period	25.97%	45.22%	-19.25%
Volatility (1Y) Calculated over the trailing 1-year period	36.03%	63.60%	-27.57%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.51%	45.60%	-11.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	35.25%	40.37%	-5.12%

Dividends

OC vs. AAON - Dividend Comparison

OC's dividend yield for the trailing twelve months is around 2.48%, more than AAON's 0.30% yield.

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%
OC Owens Corning	2.48%	2.47%	1.41%	1.40%	1.64%	1.15%	1.27%	1.35%	1.43%	0.88%	1.44%	1.45%

Financials

OC vs. AAON - Profitability Comparison

The chart below illustrates the profitability comparison between Owens Corning and AAON, Inc. over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

OC - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Owens Corning reported a gross profit of 510.00M and revenue of 2.27B. Therefore, the gross margin over that period was 22.5%.

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%.

OC - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Owens Corning reported an operating income of 120.00M and revenue of 2.27B, resulting in an operating margin of 5.3%.

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%.

OC - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Owens Corning reported a net income of -105.00M and revenue of 2.27B, resulting in a net margin of -4.6%.

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%.

Frequently Asked Questions

Can I hold both OC and AAON in my portfolio?

OC and AAON have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OC or AAON?

AAON has higher volatility (16.69%) compared to OC (10.99%). In terms of maximum drawdown, OC dropped -85.22% vs AAON's -76.03%.

Which has better risk-adjusted returns?

AAON currently has the higher Sharpe Ratio (0.59 vs -0.27), 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.