AMZN vs GOOG: Correlation
How closely do Amazon (AMZN) and Alphabet Inc. (Class C) (GOOG) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMZN and GOOG?
On 3 years of weekly data the AMZN/GOOG correlation comes out at 0.58, moderate. The relationship has been stable: the 1-year correlation (0.64) sits close to the 3-year figure. The 5-year figure is 0.63, and annualized covariance runs at 557.0 %².
Within AMZN's tracked universe of 38 assets, GOOG comes in at #17 by 3-year correlation. The last year tells two different stories: GOOG led by 50.9 percentage points, +11.8% for AMZN against +62.7% for GOOG. The rolling one-year correlation moved between 0.29 and 0.67 over the past three years, a moderate range.
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.
AMZN vs GOOG: side by side
| AMZN (Amazon) | GOOG (Alphabet Inc. (Class C)) | |
|---|---|---|
| 1-year return | +11.8% | +62.7% |
| 5-year return | +49.8% | +134.2% |
| Volatility (ann.) | 31.0% | 31.1% |
| Beta vs S&P 500 | 1.48 | 1.20 |
| Max drawdown (3Y) | -30.9% | -29.4% |
| Market cap | $2,764.1B | $4,130.2B |
| P/E (trailing) | 20.9 | 17.0 |
| Dividend yield | 0.00% | 0.25% |
| Sector / category | Consumer Discretionary | Communication Services |
Year-by-year returns
| Year | AMZN | GOOG |
|---|---|---|
| 2022 | -49.6% | -38.7% |
| 2023 | +80.9% | +58.8% |
| 2024 | +44.4% | +35.6% |
| 2025 | +5.2% | +65.4% |
| 2026 | +11.0% | +7.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMZN and GOOG good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AMZN and GOOG?
The AMZN/GOOG correlation stands at 0.58 on a 3-year window (1 year: 0.64, 5 years: 0.63), computed from weekly returns as of 2026-08-27.
Is GOOG a good diversifier for AMZN?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
A reading of 0.58 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/amzn-vs-goog.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/amzn-vs-goog/)
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Related comparisons
Hubs: AMZN correlations · GOOG correlations
