AZO vs ERIE: Correlation
AutoZone (AZO) and Erie Indemnity (ERIE) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZO and ERIE?
Over the past 3 years, AZO and ERIE moved with a correlation of 0.35, which is moderate. Recent behaviour matches the longer record: 0.37 over 1 year against 0.35 over 3. Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 245.5 %².
Among the 30 assets we track against AZO, ERIE ranks #12 by 3-year correlation. On 12-month performance ERIE holds a 5.8-point edge, -30.3% against -24.5%. The rolling one-year correlation moved between 0.11 and 0.48 over the past three years, a moderate range.
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 ERIE: side by side
| AZO (AutoZone) | ERIE (Erie Indemnity) | |
|---|---|---|
| 1-year return | -30.3% | -24.5% |
| 5-year return | +88.5% | +61.3% |
| Volatility (ann.) | 23.2% | 30.3% |
| Beta vs S&P 500 | 0.31 | 0.37 |
| Max drawdown (3Y) | -32.9% | -60.9% |
| Market cap | – | $13.6B |
| P/E (trailing) | 20.6 | 23.4 |
| Dividend yield | 0.00% | 2.24% |
| Sector / category | Consumer Discretionary | Financials |
Year-by-year returns
| Year | AZO | ERIE |
|---|---|---|
| 2022 | +17.6% | +32.0% |
| 2023 | +4.8% | +37.3% |
| 2024 | +23.8% | +24.7% |
| 2025 | +5.9% | -29.4% |
| 2026 | -13.5% | -8.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZO and ERIE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AZO and ERIE?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.37 over the last year and 0.33 over 5 years.
Is ERIE a good diversifier for AZO?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 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/azo-vs-erie.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/azo-vs-erie/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AZO correlations · ERIE correlations
