AME vs FLS: Correlation
Ametek (AME) and Flowserve Corporation (FLS) show a strong relationship: their 3-year correlation of weekly returns is 0.62.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AME and FLS?
Across a 3-year window, the weekly returns of AME and FLS correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.69) sits close to the 3-year figure. Stretching to 5 years gives 0.62, with an annualized covariance of 468.5 %².
Among the 31 assets we track against AME, FLS ranks #11 by 3-year correlation. The last year tells two different stories: FLS led by 20.0 percentage points, +31.4% for AME against +51.4% for FLS. Note the risk asymmetry: FLS runs 1.8 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.
AME vs FLS: side by side
| AME (Ametek) | FLS (Flowserve Corporation) | |
|---|---|---|
| 1-year return | +31.4% | +51.4% |
| 5-year return | +83.6% | +131.6% |
| Volatility (ann.) | 20.4% | 37.2% |
| Beta vs S&P 500 | 0.84 | 1.43 |
| Max drawdown (3Y) | -23.0% | -38.8% |
| Market cap | $55.9B | $10.4B |
| P/E (trailing) | 35.8 | 28.8 |
| Dividend yield | 0.53% | 1.04% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | AME | FLS |
|---|---|---|
| 2022 | -4.3% | +3.1% |
| 2023 | +18.8% | +37.3% |
| 2024 | +10.0% | +41.9% |
| 2025 | +14.7% | +22.5% |
| 2026 | +19.1% | +18.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AME and FLS good diversifiers for each other?
Only partially. A correlation of 0.62 means AME and FLS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between AME and FLS?
As of 2026-08-27, the correlation of weekly returns between AME and FLS is 0.62 over 3 years, 0.69 over 1 year and 0.62 over 5 years.
Is FLS a good diversifier for AME?
Only partially. A correlation of 0.62 means AME and FLS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.62 mean?
On the −1 to +1 scale, 0.62 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
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Related comparisons
Hubs: AME correlations · FLS correlations
