AGCO vs TEX: Correlation
How closely do AGCO Corporation (AGCO) and Terex Corporation (TEX) trade together? Their weekly returns over three years give a correlation of 0.66, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGCO and TEX?
Across a 3-year window, the weekly returns of AGCO and TEX correlate at 0.66, strong. Recent behaviour matches the longer record: 0.62 over 1 year against 0.66 over 3. Stretching to 5 years gives 0.66, with an annualized covariance of 877.3 %².
Few assets follow AGCO as closely as TEX, which ranks #3 of 15 tracked partners. Correlation aside, the last 12 months split them widely, with TEX ahead by 25.8 points (-1.6% versus +24.2%).
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.
AGCO vs TEX: side by side
| AGCO (AGCO Corporation) | TEX (Terex Corporation) | |
|---|---|---|
| 1-year return | -1.6% | +24.2% |
| 5-year return | -7.9% | +31.7% |
| Volatility (ann.) | 32.5% | 41.0% |
| Beta vs S&P 500 | 0.80 | 1.38 |
| Max drawdown (3Y) | -40.5% | -51.3% |
| Market cap | $7.8B | $7.4B |
| P/E (trailing) | 15.4 | 31.2 |
| Dividend yield | 1.05% | 1.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGCO | TEX |
|---|---|---|
| 2022 | +25.0% | -1.4% |
| 2023 | -7.9% | +36.1% |
| 2024 | -20.3% | -18.6% |
| 2025 | +12.9% | +17.3% |
| 2026 | +7.1% | +21.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGCO and TEX good diversifiers for each other?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AGCO and TEX?
The AGCO/TEX correlation stands at 0.66 on a 3-year window (1 year: 0.62, 5 years: 0.66), computed from weekly returns as of 2026-08-27.
Is TEX a good diversifier for AGCO?
Somewhat, no more. With 0.66 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.66 mean?
A reading of 0.66 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/agco-vs-tex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/agco-vs-tex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGCO correlations · TEX correlations
