EXLS vs TYL: Correlation
ExlService Holdings, Inc. (EXLS) and Tyler Technologies (TYL) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXLS and TYL?
Across a 3-year window, the weekly returns of EXLS and TYL correlate at 0.52, moderate. The past 12 months show a tighter link (0.63) than the 3-year average (0.52). Stretching to 5 years gives 0.51, with an annualized covariance of 490.3 %².
By 3-year correlation, TYL places #31 of the 47 assets tracked against EXLS. Correlation aside, the last 12 months split them widely, with EXLS ahead by 20.6 points (-13.4% versus -34.0%).
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.
EXLS vs TYL: side by side
| EXLS (ExlService Holdings, Inc.) | TYL (Tyler Technologies) | |
|---|---|---|
| 1-year return | -13.4% | -34.0% |
| 5-year return | +55.2% | -22.5% |
| Volatility (ann.) | 31.7% | 29.6% |
| Beta vs S&P 500 | 0.77 | 0.61 |
| Max drawdown (3Y) | -51.3% | -57.4% |
| Market cap | $5.8B | $15.1B |
| P/E (trailing) | 23.7 | 46.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | EXLS | TYL |
|---|---|---|
| 2022 | +17.0% | -40.1% |
| 2023 | -9.0% | +29.7% |
| 2024 | +43.9% | +37.9% |
| 2025 | -4.4% | -21.3% |
| 2026 | -10.0% | -18.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXLS and TYL good diversifiers for each other?
Only partially. A correlation of 0.52 means EXLS and TYL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between EXLS and TYL?
As of 2026-08-27, the correlation of weekly returns between EXLS and TYL is 0.52 over 3 years, 0.63 over 1 year and 0.51 over 5 years.
Is TYL a good diversifier for EXLS?
Only partially. A correlation of 0.52 means EXLS and TYL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 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/exls-vs-tyl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exls-vs-tyl/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EXLS correlations · TYL correlations
