AZO vs ORLY: Correlation
AutoZone (AZO) and O'Reilly Automotive (ORLY) show a strong relationship: their 3-year correlation of weekly returns is 0.78.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AZO and ORLY?
Over the past 3 years, AZO and ORLY moved with a correlation of 0.78, which is strong. Little has changed lately, as the 1-year reading of 0.82 lands near the 3-year figure. Over 5 years the correlation is 0.82, and the annualized covariance of weekly returns is 358.0 %².
Few assets follow AZO as closely as ORLY, which ranks #1 of 30 tracked partners. On 12-month performance ORLY holds a 14.7-point edge, -30.3% against -15.6%. The link looks structural: the rolling one-year correlation barely moved, holding between 0.69 and 0.85.
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 ORLY: side by side
| AZO (AutoZone) | ORLY (O'Reilly Automotive) | |
|---|---|---|
| 1-year return | -30.3% | -15.6% |
| 5-year return | +88.5% | +120.8% |
| Volatility (ann.) | 23.2% | 19.8% |
| Beta vs S&P 500 | 0.31 | 0.20 |
| Max drawdown (3Y) | -32.9% | -23.3% |
| Market cap | – | $71.1B |
| P/E (trailing) | 20.6 | 28.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | AZO | ORLY |
|---|---|---|
| 2022 | +17.6% | +19.5% |
| 2023 | +4.8% | +12.6% |
| 2024 | +23.8% | +24.8% |
| 2025 | +5.9% | +15.4% |
| 2026 | -13.5% | -3.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AZO and ORLY good diversifiers for each other?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between AZO and ORLY?
As of 2026-08-27, the correlation of weekly returns between AZO and ORLY is 0.78 over 3 years, 0.82 over 1 year and 0.82 over 5 years.
Is ORLY a good diversifier for AZO?
Somewhat, no more. With 0.78 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.78 mean?
On the −1 to +1 scale, 0.78 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-orly.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/azo-vs-orly/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AZO correlations · ORLY correlations
