AMAT vs T: Correlation
Applied Materials (AMAT) and AT&T (T) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMAT and T?
Across a 3-year window, the weekly returns of AMAT and T correlate at -0.19, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.15 over 1 year against -0.19 over 3. Stretching to 5 years gives -0.02, with an annualized covariance of -188.5 %².
T is close to the least connected end of AMAT's tracked universe, ranking #31 of 34. The last year tells two different stories: AMAT led by 203.4 percentage points, +195.0% for AMAT against -8.4% for T. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.42 to 0.30. Note the risk asymmetry: AMAT runs 1.9 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 T: side by side
| AMAT (Applied Materials) | T (AT&T) | |
|---|---|---|
| 1-year return | +195.0% | -8.4% |
| 5-year return | +269.5% | +67.2% |
| Volatility (ann.) | 43.5% | 22.4% |
| Beta vs S&P 500 | 1.69 | 0.05 |
| Max drawdown (3Y) | -49.9% | -28.9% |
| Market cap | $382.8B | $174.3B |
| P/E (trailing) | 41.3 | 8.4 |
| Dividend yield | 0.41% | 4.29% |
| Sector / category | Information Technology | Communication Services |
Year-by-year returns
| Year | AMAT | T |
|---|---|---|
| 2022 | -37.5% | +6.5% |
| 2023 | +68.0% | -2.7% |
| 2024 | +1.1% | +44.1% |
| 2025 | +59.6% | +14.0% |
| 2026 | +88.4% | +6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMAT and T good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMAT and T?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.15 over the last year and -0.02 over 5 years.
Is T a good diversifier for AMAT?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: AMAT correlations · T correlations
