DE vs TEX: Correlation
Measured on weekly returns over the past three years, Deere & Company (DE) and Terex Corporation (TEX) carry a correlation of 0.56, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DE and TEX?
Over the past 3 years, DE and TEX moved with a correlation of 0.56, which is moderate. Recent behaviour matches the longer record: 0.47 over 1 year against 0.56 over 3. Over 5 years the correlation is 0.57, and the annualized covariance of weekly returns is 610.4 %².
Among the 33 assets we track against DE, TEX ranks #8 by 3-year correlation. Twelve-month performance is nearly a tie, at +27.9% for DE and +24.2% for TEX. Risk is not evenly split, since TEX carries 1.5 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.
DE vs TEX: side by side
| DE (Deere & Company) | TEX (Terex Corporation) | |
|---|---|---|
| 1-year return | +27.9% | +24.2% |
| 5-year return | +74.5% | +31.7% |
| Volatility (ann.) | 26.7% | 41.0% |
| Beta vs S&P 500 | 0.65 | 1.38 |
| Max drawdown (3Y) | -19.9% | -51.3% |
| Market cap | $168.1B | $7.4B |
| P/E (trailing) | 35.2 | 31.2 |
| Dividend yield | 1.02% | 1.04% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DE | TEX |
|---|---|---|
| 2022 | +26.6% | -1.4% |
| 2023 | -5.5% | +36.1% |
| 2024 | +7.6% | -18.6% |
| 2025 | +11.4% | +17.3% |
| 2026 | +34.5% | +21.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DE and TEX good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between DE and TEX?
The DE/TEX correlation stands at 0.56 on a 3-year window (1 year: 0.47, 5 years: 0.57), computed from weekly returns as of 2026-08-27.
Is TEX a good diversifier for DE?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/de-vs-tex.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/de-vs-tex/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DE correlations · TEX correlations
