FDS vs TER: Correlation
Measured on weekly returns over the past three years, FactSet (FDS) and Teradyne (TER) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDS and TER?
Across a 3-year window, the weekly returns of FDS and TER correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.43 versus -0.22 over 3 years. Stretching to 5 years gives -0.01, with an annualized covariance of -364.9 %².
TER is close to the least connected end of FDS's tracked universe, ranking #29 of 32. The last year tells two different stories: TER led by 237.4 percentage points, -18.6% for FDS against +218.8% for TER. The relationship is regime-dependent: the rolling one-year correlation swung between -0.42 and 0.56 over the past three years, so this pair behaves very differently depending on the market environment. One caveat on sizing: TER is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FDS vs TER: side by side
| FDS (FactSet) | TER (Teradyne) | |
|---|---|---|
| 1-year return | -18.6% | +218.8% |
| 5-year return | -15.8% | +207.9% |
| Volatility (ann.) | 31.9% | 52.5% |
| Beta vs S&P 500 | 0.56 | 1.70 |
| Max drawdown (3Y) | -61.1% | -58.2% |
| Market cap | $10.8B | $58.2B |
| P/E (trailing) | 19.5 | 50.0 |
| Dividend yield | 1.51% | 0.14% |
| Sector / category | Financials | Information Technology |
Year-by-year returns
| Year | FDS | TER |
|---|---|---|
| 2022 | -16.7% | -46.3% |
| 2023 | +20.0% | +24.8% |
| 2024 | +1.6% | +16.5% |
| 2025 | -38.9% | +54.4% |
| 2026 | +6.0% | +92.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDS and TER good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between FDS and TER?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.43 over the last year and -0.01 over 5 years.
Is TER a good diversifier for FDS?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fds-vs-ter.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fds-vs-ter/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FDS correlations · TER correlations
