CHGA vs TNC: Correlation
Change Agents Corporation (CHGA) and Tennant Company (TNC) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHGA and TNC?
Across a 3-year window, the weekly returns of CHGA and TNC correlate at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.62) than the 3-year average (-0.34). Stretching to 5 years gives -0.24, with an annualized covariance of -1590.9 %².
Out of 10 assets tracked against CHGA, TNC lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months TNC outperformed by 78.7 percentage points (-93.7% for CHGA against -15.0% for TNC). Risk is not evenly split, since CHGA carries 4.7 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.
CHGA vs TNC: side by side
| CHGA (Change Agents Corporation) | TNC (Tennant Company) | |
|---|---|---|
| 1-year return | -93.7% | -15.0% |
| 5-year return | -99.9% | +1.8% |
| Volatility (ann.) | 148.9% | 31.5% |
| Beta vs S&P 500 | 0.96 | 0.90 |
| Max drawdown (3Y) | -99.3% | -49.0% |
| Market cap | – | $1.2B |
| P/E (trailing) | 0.1 | 67.3 |
| Dividend yield | 0.00% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHGA | TNC |
|---|---|---|
| 2022 | -36.6% | -22.8% |
| 2023 | -90.7% | +52.6% |
| 2024 | -55.0% | -11.0% |
| 2025 | -63.2% | -8.2% |
| 2026 | -89.1% | -4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHGA and TNC good diversifiers for each other?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHGA and TNC?
The CHGA/TNC correlation stands at -0.34 on a 3-year window (1 year: -0.62, 5 years: -0.24), computed from weekly returns as of 2026-08-27.
Is TNC a good diversifier for CHGA?
By historical standards, yes. A correlation of -0.34 means the two rarely move for the same reasons.
What does a correlation of -0.34 mean?
On the −1 to +1 scale, -0.34 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/chga-vs-tnc.json
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Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: CHGA correlations · TNC correlations
