AMAT vs FOXA: Correlation
Measured on weekly returns over the past three years, Applied Materials (AMAT) and Fox Corporation (Class A) (FOXA) carry a correlation of -0.18, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAT and FOXA?
Over the past 3 years, AMAT and FOXA moved with a correlation of -0.18, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.27 lands near the 3-year figure. Over 5 years the correlation is -0.00, and the annualized covariance of weekly returns is -224.2 %².
Among the 34 assets we track against AMAT, FOXA ranks #27 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AMAT ahead by 181.0 points (+195.0% versus +14.0%). The relationship is regime-dependent: the rolling one-year correlation swung between -0.32 and 0.18 over the past three years, so this pair behaves very differently depending on the market environment.
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 FOXA: side by side
| AMAT (Applied Materials) | FOXA (Fox Corporation (Class A)) | |
|---|---|---|
| 1-year return | +195.0% | +14.0% |
| 5-year return | +269.5% | +93.4% |
| Volatility (ann.) | 43.5% | 29.3% |
| Beta vs S&P 500 | 1.69 | 0.56 |
| Max drawdown (3Y) | -49.9% | -35.6% |
| Market cap | $382.8B | $28.3B |
| P/E (trailing) | 41.3 | 18.1 |
| Dividend yield | 0.41% | 0.80% |
| Sector / category | Information Technology | Communication Services |
Year-by-year returns
| Year | AMAT | FOXA |
|---|---|---|
| 2022 | -37.5% | -16.6% |
| 2023 | +68.0% | -0.8% |
| 2024 | +1.1% | +66.3% |
| 2025 | +59.6% | +51.8% |
| 2026 | +88.4% | -7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAT and FOXA 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 FOXA?
As of 2026-08-27, the correlation of weekly returns between AMAT and FOXA is -0.18 over 3 years, -0.27 over 1 year and -0.00 over 5 years.
Is FOXA 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.
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Related comparisons
Hubs: AMAT correlations · FOXA correlations
