CCI vs TER: Correlation
Crown Castle (CCI) and Teradyne (TER) show a negative relationship: their 3-year correlation of weekly returns is -0.14.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CCI and TER?
Over the past 3 years, CCI and TER moved with a correlation of -0.14, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.14 over 3. Over 5 years the correlation is 0.04, and the annualized covariance of weekly returns is -214.4 %².
Within CCI's tracked universe of 30 assets, TER comes in at #22 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TER outperformed by 240.3 percentage points (-21.5% for CCI against +218.8% for TER). The relationship is regime-dependent: the rolling one-year correlation swung between -0.39 and 0.49 over the past three years, so this pair behaves very differently depending on the market environment. Risk is not evenly split, since TER carries 1.8 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.
CCI vs TER: side by side
| CCI (Crown Castle) | TER (Teradyne) | |
|---|---|---|
| 1-year return | -21.5% | +218.8% |
| 5-year return | -50.4% | +207.9% |
| Volatility (ann.) | 28.4% | 52.5% |
| Beta vs S&P 500 | 0.22 | 1.70 |
| Max drawdown (3Y) | -33.0% | -58.2% |
| Market cap | $32.8B | $58.2B |
| P/E (trailing) | 30.9 | 50.0 |
| Dividend yield | 5.63% | 0.14% |
| Sector / category | Real Estate | Information Technology |
Year-by-year returns
| Year | CCI | TER |
|---|---|---|
| 2022 | -32.6% | -46.3% |
| 2023 | -10.2% | +24.8% |
| 2024 | -16.4% | +16.5% |
| 2025 | +3.0% | +54.4% |
| 2026 | -13.5% | +92.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CCI and TER good diversifiers for each other?
Yes. With a correlation of -0.14, CCI and TER have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CCI and TER?
As of 2026-08-27, the correlation of weekly returns between CCI and TER is -0.14 over 3 years, -0.17 over 1 year and 0.04 over 5 years.
Is TER a good diversifier for CCI?
Yes. With a correlation of -0.14, CCI and TER have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.14 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.
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Related comparisons
Hubs: CCI correlations · TER correlations
