AX vs FULT: Correlation
Axos Financial, Inc. (AX) and Fulton Financial Corporation (FULT) show a very strong relationship: their 3-year correlation of weekly returns is 0.83.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AX and FULT?
Across a 3-year window, the weekly returns of AX and FULT correlate at 0.83, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.72) runs below the 3-year figure (0.83). Stretching to 5 years gives 0.75, with an annualized covariance of 963.8 %².
By 3-year correlation, FULT places #4 of the 15 assets tracked against AX. Correlation aside, the last 12 months split them widely, with FULT ahead by 18.6 points (+5.5% versus +24.1%).
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.
AX vs FULT: side by side
| AX (Axos Financial, Inc.) | FULT (Fulton Financial Corporation) | |
|---|---|---|
| 1-year return | +5.5% | +24.1% |
| 5-year return | +99.7% | +85.0% |
| Volatility (ann.) | 38.3% | 30.3% |
| Beta vs S&P 500 | 1.12 | 1.03 |
| Max drawdown (3Y) | -34.9% | -29.9% |
| Market cap | $5.5B | $4.5B |
| P/E (trailing) | 11.6 | 11.4 |
| Dividend yield | 0.00% | 3.15% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AX | FULT |
|---|---|---|
| 2022 | -31.6% | +3.1% |
| 2023 | +42.9% | +2.5% |
| 2024 | +27.9% | +21.9% |
| 2025 | +23.4% | +4.3% |
| 2026 | +13.0% | +25.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AX and FULT good diversifiers for each other?
No. With a correlation of 0.83, AX and FULT move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between AX and FULT?
As of 2026-08-27, the correlation of weekly returns between AX and FULT is 0.83 over 3 years, 0.72 over 1 year and 0.75 over 5 years.
Is FULT a good diversifier for AX?
No. With a correlation of 0.83, AX and FULT move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.83 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ax-vs-fult.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ax-vs-fult/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AX correlations · FULT correlations
