AXP vs WFC: Correlation
Measured on weekly returns over the past three years, American Express (AXP) and Wells Fargo (WFC) carry a correlation of 0.70, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXP and WFC?
Over the past 3 years, AXP and WFC moved with a correlation of 0.70, which is strong. The past 12 months show a weaker link (0.58) than the 3-year average (0.70). Over 5 years the correlation is 0.69, and the annualized covariance of weekly returns is 548.7 %².
Within AXP's tracked universe of 35 assets, WFC comes in at #14 by 3-year correlation. Twelve-month performance is nearly a tie, at +4.7% for AXP and +5.2% for WFC. On a rolling one-year basis the correlation drifted between 0.55 and 0.89, a moderate band.
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 WFC: side by side
| AXP (American Express) | WFC (Wells Fargo) | |
|---|---|---|
| 1-year return | +4.7% | +5.2% |
| 5-year return | +116.2% | +98.3% |
| Volatility (ann.) | 26.6% | 29.7% |
| Beta vs S&P 500 | 1.20 | 0.98 |
| Max drawdown (3Y) | -28.8% | -24.7% |
| Market cap | $225.7B | $256.9B |
| P/E (trailing) | 20.4 | 12.4 |
| Dividend yield | 1.05% | 2.11% |
| Sector / category | Financials | Financials |
Year-by-year returns
| Year | AXP | WFC |
|---|---|---|
| 2022 | -8.5% | -11.9% |
| 2023 | +28.7% | +22.9% |
| 2024 | +60.3% | +46.5% |
| 2025 | +26.0% | +35.6% |
| 2026 | -8.9% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXP and WFC good diversifiers for each other?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AXP and WFC?
The AXP/WFC correlation stands at 0.70 on a 3-year window (1 year: 0.58, 5 years: 0.69), computed from weekly returns as of 2026-08-27.
Is WFC a good diversifier for AXP?
Somewhat, no more. With 0.70 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.70 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: AXP correlations · WFC correlations
