AZO vs LOW: Correlation
How closely do AutoZone (AZO) and Lowe's (LOW) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZO and LOW?
Over the past 3 years, AZO and LOW moved with a correlation of 0.41, which is moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.41 over 3. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 236.8 %².
Within AZO's tracked universe of 30 assets, LOW comes in at #6 by 3-year correlation. On 12-month performance LOW holds a 11.9-point edge, -30.3% against -18.4%. On a rolling one-year basis the correlation drifted between 0.24 and 0.56, 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.
AZO vs LOW: side by side
| AZO (AutoZone) | LOW (Lowe's) | |
|---|---|---|
| 1-year return | -30.3% | -18.4% |
| 5-year return | +88.5% | +11.1% |
| Volatility (ann.) | 23.2% | 24.8% |
| Beta vs S&P 500 | 0.31 | 0.83 |
| Max drawdown (3Y) | -32.9% | -29.0% |
| Market cap | – | – |
| P/E (trailing) | 20.6 | 17.8 |
| Dividend yield | 0.00% | 2.31% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | AZO | LOW |
|---|---|---|
| 2022 | +17.6% | -21.5% |
| 2023 | +4.8% | +14.0% |
| 2024 | +23.8% | +13.0% |
| 2025 | +5.9% | -0.3% |
| 2026 | -13.5% | -12.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZO and LOW good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AZO and LOW?
The AZO/LOW correlation stands at 0.41 on a 3-year window (1 year: 0.35, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is LOW a good diversifier for AZO?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 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: AZO correlations · LOW correlations
