FCFS vs TMO: Correlation
FirstCash Holdings, Inc. (FCFS) and Thermo Fisher Scientific (TMO) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCFS and TMO?
Over the past 3 years, FCFS and TMO moved with a correlation of -0.19, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.31 versus -0.19 over 3 years. Over 5 years the correlation is 0.02, and the annualized covariance of weekly returns is -130.6 %².
By 3-year correlation, TMO places #8 of the 13 assets tracked against FCFS. Their recent paths diverged sharply: over the last 12 months FCFS outperformed by 22.4 percentage points (+52.1% for FCFS against +29.7% for TMO).
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.
FCFS vs TMO: side by side
| FCFS (FirstCash Holdings, Inc.) | TMO (Thermo Fisher Scientific) | |
|---|---|---|
| 1-year return | +52.1% | +29.7% |
| 5-year return | +180.4% | +14.5% |
| Volatility (ann.) | 23.3% | 29.4% |
| Beta vs S&P 500 | 0.08 | 0.74 |
| Max drawdown (3Y) | -23.4% | -37.3% |
| Market cap | $9.7B | $233.2B |
| P/E (trailing) | 25.0 | 34.1 |
| Dividend yield | 0.76% | 0.28% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | FCFS | TMO |
|---|---|---|
| 2022 | +18.0% | -17.3% |
| 2023 | +26.5% | -3.4% |
| 2024 | -3.2% | -1.7% |
| 2025 | +55.7% | +11.8% |
| 2026 | +41.5% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCFS and TMO good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FCFS and TMO?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.31 over the last year and 0.02 over 5 years.
Is TMO a good diversifier for FCFS?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/fcfs-vs-tmo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fcfs-vs-tmo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCFS correlations · TMO correlations
