AMZE vs TOP: Correlation
How closely do Amaze Holdings, Inc. (AMZE) and TOP Financial Group Limited - Class A (TOP) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMZE and TOP?
Over the past 3 years, AMZE and TOP moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.35) runs below the 3-year figure (-0.23). Over 5 years the correlation is -0.02, and the annualized covariance of weekly returns is -7233.9 %².
Out of 13 assets tracked against AMZE, TOP lands near the bottom at #12. Correlation aside, the last 12 months split them widely, with TOP ahead by 1317.2 points (-99.3% versus +1217.9%). Note the risk asymmetry: TOP runs 1.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
AMZE vs TOP: side by side
| AMZE (Amaze Holdings, Inc.) | TOP (TOP Financial Group Limited - Class A) | |
|---|---|---|
| 1-year return | -99.3% | +1217.9% |
| 5-year return | -100.0% | -9.2% |
| Volatility (ann.) | 139.4% | 230.2% |
| Beta vs S&P 500 | 1.68 | 1.60 |
| Max drawdown (3Y) | -99.9% | -89.6% |
| Market cap | – | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AMZE | TOP |
|---|---|---|
| 2022 | -80.8% | – |
| 2023 | -7.0% | -22.5% |
| 2024 | -36.0% | -59.5% |
| 2025 | -97.2% | -34.3% |
| 2026 | -94.4% | +1434.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMZE and TOP good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AMZE and TOP?
The AMZE/TOP correlation stands at -0.23 on a 3-year window (1 year: -0.35, 5 years: -0.02), computed from weekly returns as of 2026-08-27.
Is TOP a good diversifier for AMZE?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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/amze-vs-top.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/amze-vs-top/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AMZE correlations · TOP correlations
