CSCO vs TOPS: Correlation
Cisco (CSCO) and TOP Ships, Inc. (TOPS) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CSCO and TOPS?
On 3 years of weekly data the CSCO/TOPS correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.45) runs below the 3-year figure (-0.20). The 5-year figure is -0.03, and annualized covariance runs at -406.9 %².
Within CSCO's tracked universe of 30 assets, TOPS comes in at #22 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months CSCO outperformed by 153.2 percentage points (+67.3% for CSCO against -85.9% for TOPS). One caveat on sizing: TOPS is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
CSCO vs TOPS: side by side
| CSCO (Cisco) | TOPS (TOP Ships, Inc.) | |
|---|---|---|
| 1-year return | +67.3% | -85.9% |
| 5-year return | +118.1% | -99.7% |
| Volatility (ann.) | 26.4% | 78.4% |
| Beta vs S&P 500 | 0.84 | 1.09 |
| Max drawdown (3Y) | -20.2% | -96.5% |
| Market cap | $442.0B | – |
| P/E (trailing) | 33.8 | 1.2 |
| Dividend yield | 1.48% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | CSCO | TOPS |
|---|---|---|
| 2022 | -22.5% | -92.4% |
| 2023 | +9.3% | +2.5% |
| 2024 | +21.0% | -61.4% |
| 2025 | +33.5% | -25.2% |
| 2026 | +47.7% | -82.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CSCO and TOPS good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CSCO and TOPS?
The CSCO/TOPS correlation stands at -0.20 on a 3-year window (1 year: -0.45, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is TOPS a good diversifier for CSCO?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/csco-vs-tops.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/csco-vs-tops/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CSCO correlations · TOPS correlations
