AMT vs AWK: Correlation
How closely do American Tower (AMT) and American Water Works (AWK) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMT and AWK?
Across a 3-year window, the weekly returns of AMT and AWK correlate at 0.56, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.43 versus 0.56 over 3 years. Stretching to 5 years gives 0.64, with an annualized covariance of 313.3 %².
Within AMT's tracked universe of 30 assets, AWK comes in at #10 by 3-year correlation. On 12-month performance AWK holds a 8.0-point edge, -11.0% against -3.0%. Across three years, the rolling one-year figure varied moderately, from 0.36 to 0.70.
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.
AMT vs AWK: side by side
| AMT (American Tower) | AWK (American Water Works) | |
|---|---|---|
| 1-year return | -11.0% | -3.0% |
| 5-year return | -30.2% | -16.6% |
| Volatility (ann.) | 27.1% | 20.7% |
| Beta vs S&P 500 | 0.18 | -0.11 |
| Max drawdown (3Y) | -28.4% | -18.8% |
| Market cap | $81.2B | $27.2B |
| P/E (trailing) | 24.2 | 23.7 |
| Dividend yield | 3.97% | 2.46% |
| Sector / category | Real Estate | Utilities |
Year-by-year returns
| Year | AMT | AWK |
|---|---|---|
| 2022 | -25.7% | -17.9% |
| 2023 | +5.4% | -11.7% |
| 2024 | -12.2% | -3.5% |
| 2025 | -0.9% | +7.4% |
| 2026 | +1.1% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMT and AWK good diversifiers for each other?
Only partially. A correlation of 0.56 means AMT and AWK 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 AMT and AWK?
The AMT/AWK correlation stands at 0.56 on a 3-year window (1 year: 0.43, 5 years: 0.64), computed from weekly returns as of 2026-08-27.
Is AWK a good diversifier for AMT?
Only partially. A correlation of 0.56 means AMT and AWK share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
A reading of 0.56 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/amt-vs-awk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amt-vs-awk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMT correlations · AWK correlations
