FSV vs TR: Correlation
FirstService Corporation (FSV) and Tootsie Roll Industries, Inc. (TR) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSV and TR?
Across a 3-year window, the weekly returns of FSV and TR correlate at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Stretching to 5 years gives 0.28, with an annualized covariance of 210.1 %².
By 3-year correlation, TR places #9 of the 14 assets tracked against FSV. Correlation aside, the last 12 months split them widely, with TR ahead by 33.4 points (-29.3% versus +4.1%).
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.
FSV vs TR: side by side
| FSV (FirstService Corporation) | TR (Tootsie Roll Industries, Inc.) | |
|---|---|---|
| 1-year return | -29.3% | +4.1% |
| 5-year return | -21.9% | +57.7% |
| Volatility (ann.) | 22.3% | 25.1% |
| Beta vs S&P 500 | 0.62 | 0.05 |
| Max drawdown (3Y) | -39.4% | -20.0% |
| Market cap | $6.2B | $3.1B |
| P/E (trailing) | 40.7 | 32.2 |
| Dividend yield | 0.81% | 0.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSV | TR |
|---|---|---|
| 2022 | -37.2% | +22.3% |
| 2023 | +33.1% | -18.8% |
| 2024 | +12.3% | +1.4% |
| 2025 | -13.5% | +17.9% |
| 2026 | -8.9% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSV and TR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FSV and TR?
As of 2026-08-27, the correlation of weekly returns between FSV and TR is 0.38 over 3 years, 0.40 over 1 year and 0.28 over 5 years.
Is TR a good diversifier for FSV?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 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/fsv-vs-tr.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fsv-vs-tr/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FSV correlations · TR correlations
