AMT vs HQY: Correlation
How closely do American Tower (AMT) and HealthEquity, Inc. (HQY) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMT and HQY?
On 3 years of weekly data the AMT/HQY correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.21 over 3 years. The 5-year figure is -0.12, and annualized covariance runs at -184.7 %².
Out of 30 assets tracked against AMT, HQY lands near the bottom at #30. The last year tells two different stories: HQY led by 17.1 percentage points, -11.0% for AMT against +6.1% for HQY.
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 HQY: side by side
| AMT (American Tower) | HQY (HealthEquity, Inc.) | |
|---|---|---|
| 1-year return | -11.0% | +6.1% |
| 5-year return | -30.2% | +45.4% |
| Volatility (ann.) | 27.1% | 32.9% |
| Beta vs S&P 500 | 0.18 | 0.63 |
| Max drawdown (3Y) | -28.4% | -36.1% |
| Market cap | $81.2B | $7.7B |
| P/E (trailing) | 24.2 | 39.1 |
| Dividend yield | 3.97% | 0.00% |
| Sector / category | Real Estate | US Listed |
Year-by-year returns
| Year | AMT | HQY |
|---|---|---|
| 2022 | -25.7% | +39.3% |
| 2023 | +5.4% | +7.6% |
| 2024 | -12.2% | +44.7% |
| 2025 | -0.9% | -4.5% |
| 2026 | +1.1% | +1.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMT and HQY good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between AMT and HQY?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.04 over the last year and -0.12 over 5 years.
Is HQY a good diversifier for AMT?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 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-hqy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amt-vs-hqy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMT correlations · HQY correlations
