ATO vs MO: Correlation
Atmos Energy (ATO) and Altria (MO) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ATO and MO?
On 3 years of weekly data the ATO/MO correlation comes out at 0.46, moderate. The link has tightened recently: the 1-year correlation (0.58) runs above the 3-year figure (0.46). The 5-year figure is 0.39, and annualized covariance runs at 159.2 %².
Within ATO's tracked universe of 32 assets, MO comes in at #18 by 3-year correlation. Over the last 12 months MO came out ahead by 5.9 percentage points (+2.9% against +8.8%). The relationship is regime-dependent: the rolling one-year correlation swung between 0.08 and 0.62 over the past three years, so this pair behaves very differently depending on the market environment.
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.
ATO vs MO: side by side
| ATO (Atmos Energy) | MO (Altria) | |
|---|---|---|
| 1-year return | +2.9% | +8.8% |
| 5-year return | +94.1% | +100.4% |
| Volatility (ann.) | 15.9% | 21.8% |
| Beta vs S&P 500 | 0.15 | -0.07 |
| Max drawdown (3Y) | -12.7% | -16.4% |
| Market cap | $28.3B | $113.0B |
| P/E (trailing) | 19.9 | 14.6 |
| Dividend yield | 2.28% | 6.13% |
| Sector / category | Utilities | Consumer Staples |
Year-by-year returns
| Year | ATO | MO |
|---|---|---|
| 2022 | +9.6% | +4.4% |
| 2023 | +6.2% | -3.7% |
| 2024 | +23.4% | +40.8% |
| 2025 | +23.1% | +18.2% |
| 2026 | +1.5% | +21.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ATO and MO good diversifiers for each other?
Reasonably. At 0.46, ATO and MO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ATO and MO?
The ATO/MO correlation stands at 0.46 on a 3-year window (1 year: 0.58, 5 years: 0.39), computed from weekly returns as of 2026-08-27.
Is MO a good diversifier for ATO?
Reasonably. At 0.46, ATO and MO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/ato-vs-mo.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: ATO correlations · MO correlations
