AFYA vs TEM: Correlation
How closely do Afya Limited - Class A (AFYA) and Tempus AI, Inc. (TEM) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AFYA and TEM?
Across a 3-year window, the weekly returns of AFYA and TEM correlate at 0.37, moderate. The link has loosened recently: the 1-year correlation (0.15) runs below the 3-year figure (0.37). Stretching to 5 years gives n/a, with an annualized covariance of 1078.0 %².
By 3-year correlation, TEM places #5 of the 10 assets tracked against AFYA. Their 12-month results are close: -1.0% for AFYA against -3.5% for TEM. One caveat on sizing: TEM is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AFYA vs TEM: side by side
| AFYA (Afya Limited - Class A) | TEM (Tempus AI, Inc.) | |
|---|---|---|
| 1-year return | -1.0% | -3.5% |
| 5-year return | -27.6% | n/a |
| Volatility (ann.) | 30.2% | 104.7% |
| Beta vs S&P 500 | 0.56 | 3.25 |
| Max drawdown (3Y) | -40.4% | -59.8% |
| Market cap | $1.3B | $12.8B |
| P/E (trailing) | 8.5 | – |
| Dividend yield | 23.89% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AFYA | TEM |
|---|---|---|
| 2022 | -0.6% | – |
| 2023 | +40.4% | – |
| 2024 | -27.6% | – |
| 2025 | -1.7% | +74.9% |
| 2026 | -3.0% | +19.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AFYA and TEM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AFYA and TEM?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.15 over the last year and n/a over 5 years.
Is TEM a good diversifier for AFYA?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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.
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Related comparisons
Hubs: AFYA correlations · TEM correlations
