FCPT vs TIGO: Correlation
Measured on weekly returns over the past three years, Four Corners Property Trust, Inc. (FCPT) and Millicom International Cellular S.A. (TIGO) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCPT and TIGO?
Across a 3-year window, the weekly returns of FCPT and TIGO correlate at 0.39, moderate. Recent behaviour matches the longer record: 0.38 over 1 year against 0.39 over 3. Stretching to 5 years gives 0.35, with an annualized covariance of 217.0 %².
Among the 17 assets we track against FCPT, TIGO ranks #11 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TIGO ahead by 110.2 points (+3.8% versus +114.0%). Note the risk asymmetry: TIGO runs 1.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FCPT vs TIGO: side by side
| FCPT (Four Corners Property Trust, Inc.) | TIGO (Millicom International Cellular S.A.) | |
|---|---|---|
| 1-year return | +3.8% | +114.0% |
| 5-year return | +16.6% | +193.9% |
| Volatility (ann.) | 17.5% | 31.5% |
| Beta vs S&P 500 | 0.32 | 0.20 |
| Max drawdown (3Y) | -20.2% | -17.7% |
| Market cap | $2.8B | $15.6B |
| P/E (trailing) | 22.9 | 23.3 |
| Dividend yield | 5.75% | 3.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FCPT | TIGO |
|---|---|---|
| 2022 | -7.2% | -55.6% |
| 2023 | +3.1% | +42.5% |
| 2024 | +13.1% | +38.9% |
| 2025 | -10.1% | +152.3% |
| 2026 | +13.1% | +76.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCPT and TIGO good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FCPT and TIGO?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.38 over the last year and 0.35 over 5 years.
Is TIGO a good diversifier for FCPT?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/fcpt-vs-tigo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcpt-vs-tigo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FCPT correlations · TIGO correlations
