BAND vs TELA: Correlation
Bandwidth Inc. (BAND) and TELA Bio, Inc. (TELA) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BAND and TELA?
Across a 3-year window, the weekly returns of BAND and TELA correlate at 0.38, moderate. The link has tightened recently: the 1-year correlation (0.55) runs above the 3-year figure (0.38). Stretching to 5 years gives 0.29, with an annualized covariance of 2654.0 %².
By 3-year correlation, TELA places #9 of the 15 assets tracked against BAND. Their recent paths diverged sharply: over the last 12 months BAND outperformed by 312.3 percentage points (+249.2% for BAND against -63.1% for TELA).
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.
BAND vs TELA: side by side
| BAND (Bandwidth Inc.) | TELA (TELA Bio, Inc.) | |
|---|---|---|
| 1-year return | +249.2% | -63.1% |
| 5-year return | -50.5% | -95.2% |
| Volatility (ann.) | 93.1% | 75.9% |
| Beta vs S&P 500 | 1.91 | 0.88 |
| Max drawdown (3Y) | -52.9% | -94.2% |
| Market cap | $1.7B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BAND | TELA |
|---|---|---|
| 2022 | -68.0% | -10.2% |
| 2023 | -36.9% | -42.4% |
| 2024 | +17.6% | -54.4% |
| 2025 | -9.2% | -60.9% |
| 2026 | +235.6% | -44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BAND and TELA good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BAND and TELA?
The BAND/TELA correlation stands at 0.38 on a 3-year window (1 year: 0.55, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is TELA a good diversifier for BAND?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/band-vs-tela.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/band-vs-tela/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BAND correlations · TELA correlations
