AENT vs AMT: Correlation
How closely do Alliance Entertainment Holding Corporation (AENT) and American Tower (AMT) trade together? Their weekly returns over three years give a correlation of -0.17, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AENT and AMT?
Across a 3-year window, the weekly returns of AENT and AMT correlate at -0.17, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.32) than the 3-year average (-0.17). Stretching to 5 years gives -0.11, with an annualized covariance of -440.4 %².
AMT is close to the least connected end of AENT's tracked universe, ranking #9 of 12. Their recent paths diverged sharply: over the last 12 months AENT outperformed by 15.0 percentage points (+4.0% for AENT against -11.0% for AMT). Risk is not evenly split, since AENT carries 3.5 times the volatility of the other side.
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.
AENT vs AMT: side by side
| AENT (Alliance Entertainment Holding Corporation) | AMT (American Tower) | |
|---|---|---|
| 1-year return | +4.0% | -11.0% |
| 5-year return | -43.4% | -30.2% |
| Volatility (ann.) | 94.6% | 27.1% |
| Beta vs S&P 500 | 1.21 | 0.18 |
| Max drawdown (3Y) | -78.2% | -28.4% |
| Market cap | $0.3B | $81.2B |
| P/E (trailing) | 11.9 | 24.2 |
| Dividend yield | 0.00% | 3.97% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | AENT | AMT |
|---|---|---|
| 2022 | +4.0% | -25.7% |
| 2023 | -90.9% | +5.4% |
| 2024 | +876.3% | -12.2% |
| 2025 | -10.8% | -0.9% |
| 2026 | -32.2% | +1.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AENT and AMT good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between AENT and AMT?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.32 over the last year and -0.11 over 5 years.
Is AMT a good diversifier for AENT?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
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Related comparisons
Hubs: AENT correlations · AMT correlations
