FE vs TEAM: Correlation
Measured on weekly returns over the past three years, FirstEnergy (FE) and Atlassian Corporation (TEAM) carry a correlation of -0.30, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FE and TEAM?
Across a 3-year window, the weekly returns of FE and TEAM correlate at -0.30, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.43) runs below the 3-year figure (-0.30). Stretching to 5 years gives -0.16, with an annualized covariance of -326.6 %².
Among the 32 assets we track against FE, TEAM sits near the bottom by co-movement, at rank #31. Their 12-month results are close: +9.9% for FE against +8.0% for TEAM. Note the risk asymmetry: TEAM runs 3.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FE vs TEAM: side by side
| FE (FirstEnergy) | TEAM (Atlassian Corporation) | |
|---|---|---|
| 1-year return | +9.9% | +8.0% |
| 5-year return | +46.7% | -49.3% |
| Volatility (ann.) | 17.6% | 61.5% |
| Beta vs S&P 500 | 0.04 | 1.66 |
| Max drawdown (3Y) | -14.7% | -82.3% |
| Market cap | $26.8B | $47.0B |
| P/E (trailing) | 25.0 | – |
| Dividend yield | 3.85% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | FE | TEAM |
|---|---|---|
| 2022 | +4.8% | -66.3% |
| 2023 | -8.9% | +84.8% |
| 2024 | +13.2% | +2.3% |
| 2025 | +17.3% | -33.4% |
| 2026 | +6.4% | +14.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FE and TEAM good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FE and TEAM?
As of 2026-08-27, the correlation of weekly returns between FE and TEAM is -0.30 over 3 years, -0.43 over 1 year and -0.16 over 5 years.
Is TEAM a good diversifier for FE?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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: FE correlations · TEAM correlations
