AGRO vs TDG: Correlation
Adecoagro S.A. (AGRO) and TransDigm Group (TDG) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGRO and TDG?
Over the past 3 years, AGRO and TDG moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.25) sits close to the 3-year figure. Over 5 years the correlation is 0.05, and the annualized covariance of weekly returns is -183.0 %².
Among the 36 assets we track against AGRO, TDG ranks #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months AGRO outperformed by 37.2 percentage points (+28.1% for AGRO against -9.1% for TDG). Note the risk asymmetry: AGRO runs 1.6 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.
AGRO vs TDG: side by side
| AGRO (Adecoagro S.A.) | TDG (TransDigm Group) | |
|---|---|---|
| 1-year return | +28.1% | -9.1% |
| 5-year return | +29.1% | +136.5% |
| Volatility (ann.) | 41.7% | 25.5% |
| Beta vs S&P 500 | -0.27 | 0.91 |
| Max drawdown (3Y) | -41.3% | -25.3% |
| Market cap | $1.5B | $65.6B |
| P/E (trailing) | 28.9 | 36.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | AGRO | TDG |
|---|---|---|
| 2022 | +11.5% | +1.8% |
| 2023 | +38.6% | +66.6% |
| 2024 | -12.4% | +32.3% |
| 2025 | -14.3% | +12.2% |
| 2026 | +36.0% | -10.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGRO and TDG good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AGRO and TDG?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.25 over the last year and 0.05 over 5 years.
Is TDG a good diversifier for AGRO?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 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.
Use this data
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Related comparisons
Hubs: AGRO correlations · TDG correlations
