AMPX vs CAG: Correlation
Measured on weekly returns over the past three years, Amprius Technologies, Inc. (AMPX) and ConAgra Brands, Inc. (CAG) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMPX and CAG?
Across a 3-year window, the weekly returns of AMPX and CAG correlate at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.24 lands near the 3-year figure. Stretching to 5 years gives -0.13, with an annualized covariance of -628.0 %².
Out of 15 assets tracked against AMPX, CAG lands near the bottom at #13. Their recent paths diverged sharply: over the last 12 months AMPX outperformed by 53.8 percentage points (+44.0% for AMPX against -9.8% for CAG). Note the risk asymmetry: AMPX runs 4.6 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.
AMPX vs CAG: side by side
| AMPX (Amprius Technologies, Inc.) | CAG (ConAgra Brands, Inc.) | |
|---|---|---|
| 1-year return | +44.0% | -9.8% |
| 5-year return | n/a | -36.6% |
| Volatility (ann.) | 111.6% | 24.2% |
| Beta vs S&P 500 | 2.16 | -0.05 |
| Max drawdown (3Y) | -87.3% | -56.7% |
| Market cap | $1.5B | $7.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 8.65% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMPX | CAG |
|---|---|---|
| 2022 | – | +17.5% |
| 2023 | -33.3% | -22.8% |
| 2024 | -47.1% | +1.5% |
| 2025 | +181.8% | -33.3% |
| 2026 | +33.2% | -2.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMPX and CAG good diversifiers for each other?
Yes. With a correlation of -0.23, AMPX and CAG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMPX and CAG?
The AMPX/CAG correlation stands at -0.23 on a 3-year window (1 year: -0.24, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is CAG a good diversifier for AMPX?
Yes. With a correlation of -0.23, AMPX and CAG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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/ampx-vs-cag.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ampx-vs-cag/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMPX correlations · CAG correlations
