AMWL vs TREX: Correlation
Measured on weekly returns over the past three years, American Well Corporation (AMWL) and Trex Company, Inc. (TREX) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMWL and TREX?
On 3 years of weekly data the AMWL/TREX correlation comes out at 0.51, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.51 over 3. The 5-year figure is 0.46, and annualized covariance runs at 1826.9 %².
Few assets follow AMWL as closely as TREX, which ranks #2 of 10 tracked partners. The last year tells two different stories: AMWL led by 96.4 percentage points, +69.1% for AMWL against -27.3% for TREX. One caveat on sizing: AMWL 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.
AMWL vs TREX: side by side
| AMWL (American Well Corporation) | TREX (Trex Company, Inc.) | |
|---|---|---|
| 1-year return | +69.1% | -27.3% |
| 5-year return | -94.4% | -58.7% |
| Volatility (ann.) | 78.9% | 45.3% |
| Beta vs S&P 500 | 2.13 | 1.48 |
| Max drawdown (3Y) | -88.0% | -69.9% |
| Market cap | $0.2B | $4.7B |
| P/E (trailing) | – | 27.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMWL | TREX |
|---|---|---|
| 2022 | -53.1% | -68.7% |
| 2023 | -47.3% | +95.6% |
| 2024 | -75.7% | -16.6% |
| 2025 | -32.3% | -49.2% |
| 2026 | +139.3% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMWL and TREX good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMWL and TREX?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.43 over the last year and 0.46 over 5 years.
Is TREX a good diversifier for AMWL?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/amwl-vs-trex.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/amwl-vs-trex/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AMWL correlations · TREX correlations
