AMAT vs DUK: Correlation
Applied Materials (AMAT) and Duke Energy (DUK) 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 AMAT and DUK?
Over the past 3 years, AMAT and DUK moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.03) than the 3-year average (-0.18). Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -121.5 %².
Within AMAT's tracked universe of 34 assets, DUK comes in at #26 by 3-year correlation. The last year tells two different stories: AMAT led by 193.9 percentage points, +195.0% for AMAT against +1.1% for DUK. The relationship is regime-dependent: the rolling one-year correlation swung between -0.52 and 0.11 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: AMAT runs 2.7 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.
AMAT vs DUK: side by side
| AMAT (Applied Materials) | DUK (Duke Energy) | |
|---|---|---|
| 1-year return | +195.0% | +1.1% |
| 5-year return | +269.5% | +39.8% |
| Volatility (ann.) | 43.5% | 15.9% |
| Beta vs S&P 500 | 1.69 | -0.09 |
| Max drawdown (3Y) | -49.9% | -11.6% |
| Market cap | $382.8B | $94.2B |
| P/E (trailing) | 41.3 | 18.3 |
| Dividend yield | 0.41% | 3.49% |
| Sector / category | Information Technology | Utilities |
Year-by-year returns
| Year | AMAT | DUK |
|---|---|---|
| 2022 | -37.5% | +2.0% |
| 2023 | +68.0% | -1.6% |
| 2024 | +1.1% | +15.6% |
| 2025 | +59.6% | +12.7% |
| 2026 | +88.4% | +5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAT and DUK good diversifiers for each other?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMAT and DUK?
Using weekly returns as of 2026-08-27: -0.18 over 3 years, with -0.03 over the last year and -0.02 over 5 years.
Is DUK a good diversifier for AMAT?
By historical standards, yes. A correlation of -0.18 means the two rarely move for the same reasons.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amat-vs-duk.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amat-vs-duk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMAT correlations · DUK correlations
