AXON vs TRI: Correlation
How closely do Axon Enterprise (AXON) and Thomson Reuters Corp (TRI) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXON and TRI?
Across a 3-year window, the weekly returns of AXON and TRI correlate at 0.49, moderate. The past 12 months show a tighter link (0.67) than the 3-year average (0.49). Stretching to 5 years gives 0.48, with an annualized covariance of 897.5 %².
By 3-year correlation, TRI places #15 of the 35 assets tracked against AXON. Their recent paths diverged sharply: over the last 12 months AXON outperformed by 17.0 percentage points (-20.6% for AXON against -37.6% for TRI). One caveat on sizing: AXON is 1.8 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.
AXON vs TRI: side by side
| AXON (Axon Enterprise) | TRI (Thomson Reuters Corp) | |
|---|---|---|
| 1-year return | -20.6% | -37.6% |
| 5-year return | +216.9% | -0.4% |
| Volatility (ann.) | 57.4% | 32.0% |
| Beta vs S&P 500 | 1.51 | 0.53 |
| Max drawdown (3Y) | -60.3% | -62.9% |
| Market cap | $49.7B | $45.4B |
| P/E (trailing) | 250.5 | 27.6 |
| Dividend yield | 0.00% | 2.48% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | AXON | TRI |
|---|---|---|
| 2022 | +5.7% | -3.0% |
| 2023 | +55.7% | +30.0% |
| 2024 | +130.1% | +11.1% |
| 2025 | -4.4% | -16.6% |
| 2026 | +7.6% | -17.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXON and TRI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AXON and TRI?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.67 over the last year and 0.48 over 5 years.
Is TRI a good diversifier for AXON?
Yes, to a useful degree: a correlation of 0.49 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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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Related comparisons
Hubs: AXON correlations · TRI correlations
