ECHO vs TLF: Correlation
How closely do EchoStar (ECHO) and Tandy Leather Factory, Inc. (TLF) trade together? Their weekly returns over three years give a correlation of -0.14, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECHO and TLF?
On 3 years of weekly data the ECHO/TLF correlation comes out at -0.14, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.06) than the 3-year average (-0.14). The 5-year figure is -0.07, and annualized covariance runs at -336.0 %².
Among the 35 assets we track against ECHO, TLF ranks #26 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ECHO outperformed by 35.2 percentage points (+47.2% for ECHO against +12.0% for TLF). Risk is not evenly split, since ECHO carries 3.4 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.
ECHO vs TLF: side by side
| ECHO (EchoStar) | TLF (Tandy Leather Factory, Inc.) | |
|---|---|---|
| 1-year return | +47.2% | +12.0% |
| 5-year return | +227.3% | +11.5% |
| Volatility (ann.) | 91.1% | 26.5% |
| Beta vs S&P 500 | 1.17 | 0.23 |
| Max drawdown (3Y) | -50.1% | -34.9% |
| Market cap | $25.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | ECHO | TLF |
|---|---|---|
| 2022 | -36.7% | -17.5% |
| 2023 | -0.7% | +0.2% |
| 2024 | +38.2% | +12.4% |
| 2025 | +374.7% | -20.9% |
| 2026 | -20.5% | +28.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECHO and TLF good diversifiers for each other?
Yes: at -0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ECHO and TLF?
As of 2026-08-27, the correlation of weekly returns between ECHO and TLF is -0.14 over 3 years, 0.06 over 1 year and -0.07 over 5 years.
Is TLF a good diversifier for ECHO?
Yes: at -0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.14 mean?
On the −1 to +1 scale, -0.14 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/echo-vs-tlf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/echo-vs-tlf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ECHO correlations · TLF correlations
