AMCR vs CF: Correlation
Amcor (AMCR) and CF Industries (CF) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMCR and CF?
Over the past 3 years, AMCR and CF moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.22). Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -173.6 %².
By 3-year correlation, CF places #28 of the 36 assets tracked against AMCR. Correlation aside, the last 12 months split them widely, with CF ahead by 36.0 points (+12.6% versus +48.6%). This link changes with the market regime, having swung between -0.50 and 0.33 on a rolling one-year basis.
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.
AMCR vs CF: side by side
| AMCR (Amcor) | CF (CF Industries) | |
|---|---|---|
| 1-year return | +12.6% | +48.6% |
| 5-year return | -9.8% | +211.5% |
| Volatility (ann.) | 24.5% | 32.8% |
| Beta vs S&P 500 | 0.46 | -0.20 |
| Max drawdown (3Y) | -32.0% | -29.2% |
| Market cap | $21.5B | $19.0B |
| P/E (trailing) | 19.8 | 9.3 |
| Dividend yield | 5.51% | 1.59% |
| Sector / category | Materials | Materials |
Year-by-year returns
| Year | AMCR | CF |
|---|---|---|
| 2022 | +3.2% | +22.3% |
| 2023 | -15.0% | -4.7% |
| 2024 | +2.6% | +10.1% |
| 2025 | -9.0% | -7.2% |
| 2026 | +14.9% | +64.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMCR and CF good diversifiers for each other?
Yes. With a correlation of -0.22, AMCR and CF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMCR and CF?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.41 over the last year and -0.09 over 5 years.
Is CF a good diversifier for AMCR?
Yes. With a correlation of -0.22, AMCR and CF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 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: AMCR correlations · CF correlations
