AMS vs GFL: Correlation
Measured on weekly returns over the past three years, American Shared Hospital Services (AMS) and GFL Environmental Inc. Subordinate voting shares, no par (GFL) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMS and GFL?
On 3 years of weekly data the AMS/GFL correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.40 versus -0.22 over 3 years. The 5-year figure is -0.06, and annualized covariance runs at -280.3 %².
Among the 11 assets we track against AMS, GFL sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with GFL ahead by 23.4 points (-40.7% versus -17.3%). One caveat on sizing: AMS is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AMS vs GFL: side by side
| AMS (American Shared Hospital Services) | GFL (GFL Environmental Inc. Subordinate voting shares, no par) | |
|---|---|---|
| 1-year return | -40.7% | -17.3% |
| 5-year return | -45.7% | +17.2% |
| Volatility (ann.) | 46.6% | 27.9% |
| Beta vs S&P 500 | 0.34 | 0.47 |
| Max drawdown (3Y) | -64.2% | -34.9% |
| Market cap | – | $14.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.20% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMS | GFL |
|---|---|---|
| 2022 | +23.6% | -22.6% |
| 2023 | -18.8% | +18.2% |
| 2024 | +34.0% | +29.3% |
| 2025 | -33.9% | -3.5% |
| 2026 | -30.8% | -4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMS and GFL good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMS and GFL?
As of 2026-08-27, the correlation of weekly returns between AMS and GFL is -0.22 over 3 years, -0.40 over 1 year and -0.06 over 5 years.
Is GFL a good diversifier for AMS?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ams-vs-gfl.json
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Related comparisons
Hubs: AMS correlations · GFL correlations
