AD vs TDS: Correlation
Measured on weekly returns over the past three years, Array Digital Infrastructure, Inc. (AD) and Telephone and Data Systems, Inc. (TDS) carry a correlation of 0.84, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AD and TDS?
Over the past 3 years, AD and TDS moved with a correlation of 0.84, which is very strong, meaning they move nearly in lockstep. The relationship has been stable: the 1-year correlation (0.77) sits close to the 3-year figure. Over 5 years the correlation is 0.93, and the annualized covariance of weekly returns is 1652.4 %².
In AD's tracked universe of 13 assets, TDS sits right near the top at #1. The last year tells two different stories: AD led by 16.7 percentage points, -0.3% for AD against -17.0% for TDS.
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.
AD vs TDS: side by side
| AD (Array Digital Infrastructure, Inc.) | TDS (Telephone and Data Systems, Inc.) | |
|---|---|---|
| 1-year return | -0.3% | -17.0% |
| 5-year return | +142.7% | +91.9% |
| Volatility (ann.) | 42.1% | 46.7% |
| Beta vs S&P 500 | 0.68 | 0.86 |
| Max drawdown (3Y) | -32.0% | -33.4% |
| Market cap | $3.1B | $3.8B |
| P/E (trailing) | 4.6 | 8.3 |
| Dividend yield | 30.85% | 0.48% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AD | TDS |
|---|---|---|
| 2022 | -33.9% | -45.3% |
| 2023 | +99.2% | +86.3% |
| 2024 | +51.0% | +89.0% |
| 2025 | +22.6% | +20.7% |
| 2026 | +1.0% | -19.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AD and TDS good diversifiers for each other?
No: a correlation of 0.84 means AD and TDS tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between AD and TDS?
Using weekly returns as of 2026-08-27: 0.84 over 3 years, with 0.77 over the last year and 0.93 over 5 years.
Is TDS a good diversifier for AD?
No: a correlation of 0.84 means AD and TDS tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.84 mean?
A reading of 0.84 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ad-vs-tds.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ad-vs-tds/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AD correlations · TDS correlations
