AXP vs COF: Correlation
How closely do American Express (AXP) and Capital One (COF) trade together? Their weekly returns over three years give a correlation of 0.78, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXP and COF?
On 3 years of weekly data the AXP/COF correlation comes out at 0.78, strong. Little has changed lately, as the 1-year reading of 0.74 lands near the 3-year figure. The 5-year figure is 0.77, and annualized covariance runs at 633.3 %².
Few assets follow AXP as closely as COF, which ranks #2 of 35 tracked partners. On 12-month performance AXP holds a 6.7-point edge, +4.7% against -2.0%. The link looks structural: the rolling one-year correlation barely moved, holding between 0.66 and 0.87.
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.
AXP vs COF: side by side
| AXP (American Express) | COF (Capital One) | |
|---|---|---|
| 1-year return | +4.7% | -2.0% |
| 5-year return | +116.2% | +43.2% |
| Volatility (ann.) | 26.6% | 30.6% |
| Beta vs S&P 500 | 1.20 | 1.28 |
| Max drawdown (3Y) | -28.8% | -31.5% |
| Market cap | $225.7B | $132.9B |
| P/E (trailing) | 20.4 | 12.0 |
| Dividend yield | 1.05% | 1.38% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | AXP | COF |
|---|---|---|
| 2022 | -8.5% | -34.6% |
| 2023 | +28.7% | +44.3% |
| 2024 | +60.3% | +38.2% |
| 2025 | +26.0% | +37.6% |
| 2026 | -8.9% | -9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXP and COF good diversifiers for each other?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between AXP and COF?
Using weekly returns as of 2026-08-27: 0.78 over 3 years, with 0.74 over the last year and 0.77 over 5 years.
Is COF a good diversifier for AXP?
To a limited degree. At 0.78 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.78 mean?
A reading of 0.78 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: AXP correlations · COF correlations
