BWA vs TYL: Correlation
Measured on weekly returns over the past three years, BorgWarner Inc. (BWA) and Tyler Technologies (TYL) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BWA and TYL?
On 3 years of weekly data the BWA/TYL correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.48) than the 3-year average (-0.25). The 5-year figure is 0.06, and annualized covariance runs at -216.4 %².
TYL is close to the least connected end of BWA's tracked universe, ranking #15 of 16. Their recent paths diverged sharply: over the last 12 months BWA outperformed by 84.9 percentage points (+50.9% for BWA against -34.0% for TYL).
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.
BWA vs TYL: side by side
| BWA (BorgWarner Inc.) | TYL (Tyler Technologies) | |
|---|---|---|
| 1-year return | +50.9% | -34.0% |
| 5-year return | +84.0% | -22.5% |
| Volatility (ann.) | 29.6% | 29.6% |
| Beta vs S&P 500 | 0.54 | 0.61 |
| Max drawdown (3Y) | -38.7% | -57.4% |
| Market cap | $13.2B | $15.1B |
| P/E (trailing) | 31.9 | 46.3 |
| Dividend yield | 1.05% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | BWA | TYL |
|---|---|---|
| 2022 | -9.2% | -40.1% |
| 2023 | +2.5% | +29.7% |
| 2024 | -10.2% | +37.9% |
| 2025 | +43.9% | -21.3% |
| 2026 | +44.6% | -18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BWA and TYL good diversifiers for each other?
Yes. With a correlation of -0.25, BWA and TYL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BWA and TYL?
The BWA/TYL correlation stands at -0.25 on a 3-year window (1 year: -0.48, 5 years: 0.06), computed from weekly returns as of 2026-08-27.
Is TYL a good diversifier for BWA?
Yes. With a correlation of -0.25, BWA and TYL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bwa-vs-tyl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bwa-vs-tyl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: BWA correlations · TYL correlations
