EXP vs TGLS: Correlation
How closely do Eagle Materials Inc (EXP) and Tecnoglass Holdings Inc. (TGLS) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXP and TGLS?
Over the past 3 years, EXP and TGLS moved with a correlation of 0.52, which is moderate. Little has changed lately, as the 1-year reading of 0.52 lands near the 3-year figure. Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 749.1 %².
Among the 24 assets we track against EXP, TGLS ranks #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EXP outperformed by 28.7 percentage points (-15.7% for EXP against -44.4% for TGLS).
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.
EXP vs TGLS: side by side
| EXP (Eagle Materials Inc) | TGLS (Tecnoglass Holdings Inc.) | |
|---|---|---|
| 1-year return | -15.7% | -44.4% |
| 5-year return | +29.5% | +85.6% |
| Volatility (ann.) | 34.8% | 41.6% |
| Beta vs S&P 500 | 1.21 | 1.28 |
| Max drawdown (3Y) | -44.7% | -56.8% |
| Market cap | $6.1B | $1.8B |
| P/E (trailing) | 15.6 | 14.1 |
| Dividend yield | 0.50% | 1.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXP | TGLS |
|---|---|---|
| 2022 | -19.6% | +18.9% |
| 2023 | +53.6% | +49.9% |
| 2024 | +22.1% | +74.9% |
| 2025 | -15.9% | -36.3% |
| 2026 | -4.1% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXP and TGLS good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EXP and TGLS?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.52 over the last year and 0.42 over 5 years.
Is TGLS a good diversifier for EXP?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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/exp-vs-tgls.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/exp-vs-tgls/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EXP correlations · TGLS correlations
