AMWL vs BAM: Correlation
How closely do American Well Corporation (AMWL) and Brookfield Asset Management Inc Class A Limited Voting (BAM) trade together? Their weekly returns over three years give a correlation of 0.57, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMWL and BAM?
On 3 years of weekly data the AMWL/BAM correlation comes out at 0.57, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.57 over 3. The 5-year figure is 0.51, and annualized covariance runs at 1259.7 %².
Few assets follow AMWL as closely as BAM, which ranks #1 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months AMWL outperformed by 79.7 percentage points (+69.1% for AMWL against -10.6% for BAM). Risk is not evenly split, since AMWL carries 2.8 times the volatility of the other side.
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.
AMWL vs BAM: side by side
| AMWL (American Well Corporation) | BAM (Brookfield Asset Management Inc Class A Limited Voting) | |
|---|---|---|
| 1-year return | +69.1% | -10.6% |
| 5-year return | -94.4% | n/a |
| Volatility (ann.) | 78.9% | 28.2% |
| Beta vs S&P 500 | 2.13 | 1.35 |
| Max drawdown (3Y) | -88.0% | -30.4% |
| Market cap | $0.2B | $83.2B |
| P/E (trailing) | – | 29.9 |
| Dividend yield | 0.00% | 3.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMWL | BAM |
|---|---|---|
| 2022 | -53.1% | – |
| 2023 | -47.3% | +45.6% |
| 2024 | -75.7% | +39.7% |
| 2025 | -32.3% | -0.2% |
| 2026 | +139.3% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMWL and BAM good diversifiers for each other?
Only partially. A correlation of 0.57 means AMWL and BAM 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 AMWL and BAM?
As of 2026-08-27, the correlation of weekly returns between AMWL and BAM is 0.57 over 3 years, 0.54 over 1 year and 0.51 over 5 years.
Is BAM a good diversifier for AMWL?
Only partially. A correlation of 0.57 means AMWL and BAM share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 mean?
A reading of 0.57 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AMWL correlations · BAM correlations
