AEP vs TEAM: Correlation
Measured on weekly returns over the past three years, American Electric Power (AEP) and Atlassian Corporation (TEAM) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AEP and TEAM?
Over the past 3 years, AEP and TEAM moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.41) runs below the 3-year figure (-0.29). Over 5 years the correlation is -0.17, and the annualized covariance of weekly returns is -339.2 %².
Out of 36 assets tracked against AEP, TEAM lands near the bottom at #35. Neither side won the trailing year by much: +12.1% against +8.0%. Note the risk asymmetry: TEAM runs 3.3 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.
AEP vs TEAM: side by side
| AEP (American Electric Power) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | +12.1% | +8.0% |
| 5-year return | +63.9% | -49.3% |
| Volatility (ann.) | 18.9% | 61.5% |
| Beta vs S&P 500 | -0.01 | 1.66 |
| Max drawdown (3Y) | -13.1% | -82.3% |
| Market cap | $66.8B | $47.0B |
| P/E (trailing) | 21.4 | – |
| Dividend yield | 3.06% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | AEP | TEAM |
|---|---|---|
| 2022 | +10.4% | -66.3% |
| 2023 | -11.0% | +84.8% |
| 2024 | +18.2% | +2.3% |
| 2025 | +29.4% | -33.4% |
| 2026 | +8.9% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AEP and TEAM good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between AEP and TEAM?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.41 over the last year and -0.17 over 5 years.
Is TEAM a good diversifier for AEP?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
On the −1 to +1 scale, -0.29 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: AEP correlations · TEAM correlations
