AMT vs CCI: Correlation
How closely do American Tower (AMT) and Crown Castle (CCI) trade together? Their weekly returns over three years give a correlation of 0.85, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMT and CCI?
Over the past 3 years, AMT and CCI moved with a correlation of 0.85, which is very strong, meaning they move nearly in lockstep. Little has changed lately, as the 1-year reading of 0.90 lands near the 3-year figure. Over 5 years the correlation is 0.85, and the annualized covariance of weekly returns is 654.2 %².
In AMT's tracked universe of 30 assets, CCI sits right near the top at #1. On 12-month performance AMT holds a 10.5-point edge, -11.0% against -21.5%. The link looks structural: the rolling one-year correlation barely moved, holding between 0.77 and 0.91.
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 CCI: side by side
| AMT (American Tower) | CCI (Crown Castle) | |
|---|---|---|
| 1-year return | -11.0% | -21.5% |
| 5-year return | -30.2% | -50.4% |
| Volatility (ann.) | 27.1% | 28.4% |
| Beta vs S&P 500 | 0.18 | 0.22 |
| Max drawdown (3Y) | -28.4% | -33.0% |
| Market cap | $81.2B | $32.8B |
| P/E (trailing) | 24.2 | 30.9 |
| Dividend yield | 3.97% | 5.63% |
| Sector / category | Real Estate | Real Estate |
Year-by-year returns
| Year | AMT | CCI |
|---|---|---|
| 2022 | -25.7% | -32.6% |
| 2023 | +5.4% | -10.2% |
| 2024 | -12.2% | -16.4% |
| 2025 | -0.9% | +3.0% |
| 2026 | +1.1% | -13.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMT and CCI good diversifiers for each other?
No. With a correlation of 0.85, AMT and CCI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AMT and CCI?
As of 2026-08-27, the correlation of weekly returns between AMT and CCI is 0.85 over 3 years, 0.90 over 1 year and 0.85 over 5 years.
Is CCI a good diversifier for AMT?
No. With a correlation of 0.85, AMT and CCI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.85 mean?
A reading of 0.85 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-cci.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amt-vs-cci/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AMT correlations · CCI correlations
