BW vs TSEM: Correlation
Babcock & Wilcox Enterprises, Inc. (BW) and Tower Semiconductor Ltd. (TSEM) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BW and TSEM?
Over the past 3 years, BW and TSEM moved with a correlation of 0.40, which is moderate. The relationship has been stable: the 1-year correlation (0.39) sits close to the 3-year figure. Over 5 years the correlation is 0.38, and the annualized covariance of weekly returns is 2872.3 %².
By 3-year correlation, TSEM places #5 of the 10 assets tracked against BW. The last year tells two different stories: BW led by 44.8 percentage points, +317.4% for BW against +272.6% for TSEM. Risk is not evenly split, since BW carries 2.6 times the volatility of the other side.
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.
BW vs TSEM: side by side
| BW (Babcock & Wilcox Enterprises, Inc.) | TSEM (Tower Semiconductor Ltd.) | |
|---|---|---|
| 1-year return | +317.4% | +272.6% |
| 5-year return | +5.9% | +648.0% |
| Volatility (ann.) | 137.1% | 52.1% |
| Beta vs S&P 500 | 3.26 | 1.55 |
| Max drawdown (3Y) | -95.2% | -45.8% |
| Market cap | $1.1B | $24.8B |
| P/E (trailing) | – | 87.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BW | TSEM |
|---|---|---|
| 2022 | -36.0% | +8.9% |
| 2023 | -74.7% | -29.4% |
| 2024 | +12.3% | +68.8% |
| 2025 | +286.6% | +128.0% |
| 2026 | +21.1% | +87.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BW and TSEM good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BW and TSEM?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.39 over the last year and 0.38 over 5 years.
Is TSEM a good diversifier for BW?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 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/bw-vs-tsem.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bw-vs-tsem/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BW correlations · TSEM correlations
