AZO vs BEAT: Correlation
How closely do AutoZone (AZO) and Heartbeam, Inc. (BEAT) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZO and BEAT?
Across a 3-year window, the weekly returns of AZO and BEAT correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.22). Stretching to 5 years gives -0.12, with an annualized covariance of -795.0 %².
Within AZO's tracked universe of 30 assets, BEAT comes in at #24 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AZO outperformed by 28.5 percentage points (-30.3% for AZO against -58.8% for BEAT). One caveat on sizing: BEAT is 6.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AZO vs BEAT: side by side
| AZO (AutoZone) | BEAT (Heartbeam, Inc.) | |
|---|---|---|
| 1-year return | -30.3% | -58.8% |
| 5-year return | +88.5% | -89.6% |
| Volatility (ann.) | 23.2% | 152.8% |
| Beta vs S&P 500 | 0.31 | 0.65 |
| Max drawdown (3Y) | -32.9% | -86.1% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | US Listed |
Year-by-year returns
| Year | AZO | BEAT |
|---|---|---|
| 2022 | +17.6% | +58.4% |
| 2023 | +4.8% | -51.8% |
| 2024 | +23.8% | -2.1% |
| 2025 | +5.9% | +4.3% |
| 2026 | -13.5% | -79.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZO and BEAT good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between AZO and BEAT?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.38 over the last year and -0.12 over 5 years.
Is BEAT a good diversifier for AZO?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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/azo-vs-beat.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/azo-vs-beat/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AZO correlations · BEAT correlations
