AMZN vs SO: Correlation
Amazon (AMZN) and Southern Company (SO) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AMZN and SO?
On 3 years of weekly data the AMZN/SO correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.22 over 3. The 5-year figure is -0.02, and annualized covariance runs at -111.6 %².
Among the 38 assets we track against AMZN, SO ranks #29 by 3-year correlation. On 12-month performance AMZN holds a 13.2-point edge, +11.8% against -1.4%. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.47 to 0.17. One caveat on sizing: AMZN is 1.9 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.
AMZN vs SO: side by side
| AMZN (Amazon) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +11.8% | -1.4% |
| 5-year return | +49.8% | +62.6% |
| Volatility (ann.) | 31.0% | 16.5% |
| Beta vs S&P 500 | 1.48 | -0.02 |
| Max drawdown (3Y) | -30.9% | -15.0% |
| Market cap | $2,764.1B | $102.4B |
| P/E (trailing) | 20.9 | 21.7 |
| Dividend yield | 0.00% | 3.32% |
| Sector / category | Consumer Discretionary | Utilities |
Year-by-year returns
| Year | AMZN | SO |
|---|---|---|
| 2022 | -49.6% | +8.2% |
| 2023 | +80.9% | +2.2% |
| 2024 | +44.4% | +21.7% |
| 2025 | +5.2% | +9.5% |
| 2026 | +11.0% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AMZN and SO good diversifiers for each other?
Yes. With a correlation of -0.22, AMZN and SO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between AMZN and SO?
As of 2026-08-27, the correlation of weekly returns between AMZN and SO is -0.22 over 3 years, -0.28 over 1 year and -0.02 over 5 years.
Is SO a good diversifier for AMZN?
Yes. With a correlation of -0.22, AMZN and SO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: AMZN correlations · SO correlations
