AME vs APG: Correlation
How closely do Ametek (AME) and APi Group Corporation (APG) trade together? Their weekly returns over three years give a correlation of 0.62, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AME and APG?
Across a 3-year window, the weekly returns of AME and APG correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.58) sits close to the 3-year figure. Stretching to 5 years gives 0.65, with an annualized covariance of 344.6 %².
Within AME's tracked universe of 31 assets, APG comes in at #9 by 3-year correlation. Correlation aside, the last 12 months split them widely, with AME ahead by 17.9 points (+31.4% versus +13.5%).
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.
AME vs APG: side by side
| AME (Ametek) | APG (APi Group Corporation) | |
|---|---|---|
| 1-year return | +31.4% | +13.5% |
| 5-year return | +83.6% | +165.2% |
| Volatility (ann.) | 20.4% | 27.2% |
| Beta vs S&P 500 | 0.84 | 1.14 |
| Max drawdown (3Y) | -23.0% | -22.2% |
| Market cap | $55.9B | $17.8B |
| P/E (trailing) | 35.8 | – |
| Dividend yield | 0.53% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | AME | APG |
|---|---|---|
| 2022 | -4.3% | -27.0% |
| 2023 | +18.8% | +83.9% |
| 2024 | +10.0% | +4.0% |
| 2025 | +14.7% | +59.5% |
| 2026 | +19.1% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AME and APG good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AME and APG?
Using weekly returns as of 2026-08-27: 0.62 over 3 years, with 0.58 over the last year and 0.65 over 5 years.
Is APG a good diversifier for AME?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
A reading of 0.62 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: AME correlations · APG correlations
