AGRO vs AME: Correlation
Adecoagro S.A. (AGRO) and Ametek (AME) show a negative relationship: their 3-year correlation of weekly returns is -0.18.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGRO and AME?
On 3 years of weekly data the AGRO/AME correlation comes out at -0.18, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.39) runs below the 3-year figure (-0.18). The 5-year figure is 0.00, and annualized covariance runs at -154.9 %².
Among the 36 assets we track against AGRO, AME ranks #12 by 3-year correlation. Twelve-month performance is nearly a tie, at +28.1% for AGRO and +31.4% for AME. One caveat on sizing: AGRO is 2.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AGRO vs AME: side by side
| AGRO (Adecoagro S.A.) | AME (Ametek) | |
|---|---|---|
| 1-year return | +28.1% | +31.4% |
| 5-year return | +29.1% | +83.6% |
| Volatility (ann.) | 41.7% | 20.4% |
| Beta vs S&P 500 | -0.27 | 0.84 |
| Max drawdown (3Y) | -41.3% | -23.0% |
| Market cap | $1.5B | $55.9B |
| P/E (trailing) | 28.9 | 35.8 |
| Dividend yield | 0.00% | 0.53% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | AGRO | AME |
|---|---|---|
| 2022 | +11.5% | -4.3% |
| 2023 | +38.6% | +18.8% |
| 2024 | -12.4% | +10.0% |
| 2025 | -14.3% | +14.7% |
| 2026 | +36.0% | +19.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGRO and AME good diversifiers for each other?
Yes. With a correlation of -0.18, AGRO and AME have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AGRO and AME?
The AGRO/AME correlation stands at -0.18 on a 3-year window (1 year: -0.39, 5 years: 0.00), computed from weekly returns as of 2026-08-27.
Is AME a good diversifier for AGRO?
Yes. With a correlation of -0.18, AGRO and AME have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.18 mean?
A reading of -0.18 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AGRO correlations · AME correlations
