GOOG vs T: Correlation
How closely do Alphabet Inc. (Class C) (GOOG) and AT&T (T) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GOOG and T?
On 3 years of weekly data the GOOG/T correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.23). The 5-year figure is -0.07, and annualized covariance runs at -157.4 %².
Among the 36 assets we track against GOOG, T ranks #25 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GOOG outperformed by 71.1 percentage points (+62.7% for GOOG against -8.4% for T). The rolling one-year correlation moved between -0.34 and 0.13 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.
GOOG vs T: side by side
| GOOG (Alphabet Inc. (Class C)) | T (AT&T) | |
|---|---|---|
| 1-year return | +62.7% | -8.4% |
| 5-year return | +134.2% | +67.2% |
| Volatility (ann.) | 31.1% | 22.4% |
| Beta vs S&P 500 | 1.20 | 0.05 |
| Max drawdown (3Y) | -29.4% | -28.9% |
| Market cap | $4,130.2B | $174.3B |
| P/E (trailing) | 17.0 | 8.4 |
| Dividend yield | 0.25% | 4.29% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | GOOG | T |
|---|---|---|
| 2022 | -38.7% | +6.5% |
| 2023 | +58.8% | -2.7% |
| 2024 | +35.6% | +44.1% |
| 2025 | +65.4% | +14.0% |
| 2026 | +7.8% | +6.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GOOG and T good diversifiers for each other?
Yes. With a correlation of -0.23, GOOG and T have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between GOOG and T?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.36 over the last year and -0.07 over 5 years.
Is T a good diversifier for GOOG?
Yes. With a correlation of -0.23, GOOG and T have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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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Hubs: GOOG correlations · T correlations
