AME vs PH: Correlation
How closely do Ametek (AME) and Parker Hannifin (PH) trade together? Their weekly returns over three years give a correlation of 0.69, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AME and PH?
Across a 3-year window, the weekly returns of AME and PH correlate at 0.69, strong. Lately the two have drifted apart, with the 1-year correlation at 0.57 versus 0.69 over 3 years. Stretching to 5 years gives 0.74, with an annualized covariance of 377.2 %².
In AME's tracked universe of 31 assets, PH sits right near the top at #3. Neither side won the trailing year by much: +31.4% against +32.8%. Across three years, the rolling one-year figure varied moderately, from 0.46 to 0.82.
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 PH: side by side
| AME (Ametek) | PH (Parker Hannifin) | |
|---|---|---|
| 1-year return | +31.4% | +32.8% |
| 5-year return | +83.6% | +256.4% |
| Volatility (ann.) | 20.4% | 26.6% |
| Beta vs S&P 500 | 0.84 | 1.16 |
| Max drawdown (3Y) | -23.0% | -26.8% |
| Market cap | $55.9B | $127.5B |
| P/E (trailing) | 35.8 | 36.5 |
| Dividend yield | 0.53% | 0.71% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | AME | PH |
|---|---|---|
| 2022 | -4.3% | -6.9% |
| 2023 | +18.8% | +60.8% |
| 2024 | +10.0% | +39.6% |
| 2025 | +14.7% | +39.5% |
| 2026 | +19.1% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AME and PH good diversifiers for each other?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AME and PH?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.57 over the last year and 0.74 over 5 years.
Is PH a good diversifier for AME?
Somewhat, no more. With 0.69 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.69 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ame-vs-ph.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ame-vs-ph/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AME correlations · PH correlations
