EQ vs TLS: Correlation
How closely do Equillium, Inc. (EQ) and Telos Corporation (TLS) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQ and TLS?
Across a 3-year window, the weekly returns of EQ and TLS correlate at 0.44, moderate. The past 12 months show a weaker link (0.06) than the 3-year average (0.44). Stretching to 5 years gives 0.38, with an annualized covariance of 7108.6 %².
In EQ's tracked universe of 13 assets, TLS sits right near the top at #1. The last year tells two different stories: EQ led by 45.6 percentage points, +28.3% for EQ against -17.3% for TLS.
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.
EQ vs TLS: side by side
| EQ (Equillium, Inc.) | TLS (Telos Corporation) | |
|---|---|---|
| 1-year return | +28.3% | -17.3% |
| 5-year return | -60.0% | -85.1% |
| Volatility (ann.) | 147.8% | 110.3% |
| Beta vs S&P 500 | 0.03 | 2.54 |
| Max drawdown (3Y) | -90.3% | -58.3% |
| Market cap | $0.2B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQ | TLS |
|---|---|---|
| 2022 | -71.9% | -67.0% |
| 2023 | -32.1% | -28.3% |
| 2024 | +4.2% | -6.3% |
| 2025 | +106.7% | +49.1% |
| 2026 | +58.1% | -5.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQ and TLS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EQ and TLS?
The EQ/TLS correlation stands at 0.44 on a 3-year window (1 year: 0.06, 5 years: 0.38), computed from weekly returns as of 2026-08-27.
Is TLS a good diversifier for EQ?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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.
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Related comparisons
Hubs: EQ correlations · TLS correlations
