ETSY vs TGS: Correlation
Measured on weekly returns over the past three years, Etsy, Inc. (ETSY) and Transportadora de Gas del Sur SA TGS (TGS) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETSY and TGS?
Across a 3-year window, the weekly returns of ETSY and TGS correlate at -0.26, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.41) than the 3-year average (-0.26). Stretching to 5 years gives -0.07, with an annualized covariance of -657.8 %².
Among the 12 assets we track against ETSY, TGS sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months ETSY outperformed by 45.8 percentage points (+52.4% for ETSY against +6.6% for TGS).
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.
ETSY vs TGS: side by side
| ETSY (Etsy, Inc.) | TGS (Transportadora de Gas del Sur SA TGS) | |
|---|---|---|
| 1-year return | +52.4% | +6.6% |
| 5-year return | -61.9% | +412.6% |
| Volatility (ann.) | 46.0% | 55.6% |
| Beta vs S&P 500 | 0.98 | 0.33 |
| Max drawdown (3Y) | -53.1% | -39.5% |
| Market cap | $7.6B | $4.3B |
| P/E (trailing) | 25.8 | 12.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETSY | TGS |
|---|---|---|
| 2022 | -45.3% | +165.8% |
| 2023 | -32.3% | +27.9% |
| 2024 | -34.7% | +94.0% |
| 2025 | +4.8% | +6.2% |
| 2026 | +49.6% | -8.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETSY and TGS good diversifiers for each other?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ETSY and TGS?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.41 over the last year and -0.07 over 5 years.
Is TGS a good diversifier for ETSY?
Yes: at -0.26, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.26 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.
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Related comparisons
Hubs: ETSY correlations · TGS correlations
