AEE vs TEAM: Correlation
How closely do Ameren (AEE) and Atlassian Corporation (TEAM) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEE and TEAM?
Over the past 3 years, AEE and TEAM moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.24 over 3 years. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -263.3 %².
Out of 35 assets tracked against AEE, TEAM lands near the bottom at #33. Twelve-month performance is nearly a tie, at +8.8% for AEE and +8.0% for TEAM. Note the risk asymmetry: TEAM runs 3.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AEE vs TEAM: side by side
| AEE (Ameren) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | +8.8% | +8.0% |
| 5-year return | +39.7% | -49.3% |
| Volatility (ann.) | 17.8% | 61.5% |
| Beta vs S&P 500 | 0.10 | 1.66 |
| Max drawdown (3Y) | -16.5% | -82.3% |
| Market cap | $29.6B | $47.0B |
| P/E (trailing) | 19.0 | – |
| Dividend yield | 2.71% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AEE | TEAM |
|---|---|---|
| 2022 | +2.5% | -66.3% |
| 2023 | -16.1% | +84.8% |
| 2024 | +27.5% | +2.3% |
| 2025 | +15.3% | -33.4% |
| 2026 | +8.4% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEE and TEAM good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between AEE and TEAM?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.37 over the last year and -0.09 over 5 years.
Is TEAM a good diversifier for AEE?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: AEE correlations · TEAM correlations
