AP vs AZ: Correlation
Ampco-Pittsburgh Corporation (AP) and A2Z Cust2Mate Solutions Corp. (AZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AP and AZ?
Across a 3-year window, the weekly returns of AP and AZ correlate at 0.40, moderate. The past 12 months show a weaker link (-0.01) than the 3-year average (0.40). Stretching to 5 years gives 0.31, with an annualized covariance of 3689.8 %².
Within AP's tracked universe of 14 assets, AZ comes in at #5 by 3-year correlation. The last year tells two different stories: AP led by 258.1 percentage points, +232.6% for AP against -25.5% for AZ.
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.
AP vs AZ: side by side
| AP (Ampco-Pittsburgh Corporation) | AZ (A2Z Cust2Mate Solutions Corp.) | |
|---|---|---|
| 1-year return | +232.6% | -25.5% |
| 5-year return | +90.5% | -49.4% |
| Volatility (ann.) | 94.5% | 97.5% |
| Beta vs S&P 500 | 1.63 | 1.35 |
| Max drawdown (3Y) | -77.6% | -85.0% |
| Market cap | $0.2B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AP | AZ |
|---|---|---|
| 2022 | -49.8% | -88.3% |
| 2023 | +8.8% | +7.9% |
| 2024 | -23.4% | +93.3% |
| 2025 | +155.0% | -1.7% |
| 2026 | +72.2% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AP and AZ good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AP and AZ?
The AP/AZ correlation stands at 0.40 on a 3-year window (1 year: -0.01, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is AZ a good diversifier for AP?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 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: AP correlations · AZ correlations
