GLQ vs TEL: Correlation
Measured on weekly returns over the past three years, Clough Global Equity Fund (GLQ) and TE Connectivity (TEL) carry a correlation of 0.66, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLQ and TEL?
Across a 3-year window, the weekly returns of GLQ and TEL correlate at 0.66, strong. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Stretching to 5 years gives 0.60, with an annualized covariance of 317.0 %².
Within GLQ's tracked universe of 21 assets, TEL comes in at #11 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months GLQ outperformed by 22.7 percentage points (+21.6% for GLQ against -1.1% for TEL). Note the risk asymmetry: TEL runs 1.7 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.
GLQ vs TEL: side by side
| GLQ (Clough Global Equity Fund) | TEL (TE Connectivity) | |
|---|---|---|
| 1-year return | +21.6% | -1.1% |
| 5-year return | -3.8% | +43.7% |
| Volatility (ann.) | 16.6% | 28.8% |
| Beta vs S&P 500 | 1.00 | 1.32 |
| Max drawdown (3Y) | -19.2% | -22.6% |
| Market cap | – | $58.8B |
| P/E (trailing) | 2.7 | 20.1 |
| Dividend yield | 9.99% | 1.42% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | GLQ | TEL |
|---|---|---|
| 2022 | -42.3% | -27.7% |
| 2023 | +2.8% | +24.6% |
| 2024 | +25.2% | +3.5% |
| 2025 | +28.5% | +61.1% |
| 2026 | +13.2% | -9.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLQ and TEL good diversifiers for each other?
Only partially. A correlation of 0.66 means GLQ and TEL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between GLQ and TEL?
Using weekly returns as of 2026-08-27: 0.66 over 3 years, with 0.58 over the last year and 0.60 over 5 years.
Is TEL a good diversifier for GLQ?
Only partially. A correlation of 0.66 means GLQ and TEL share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.66 mean?
A reading of 0.66 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/glq-vs-tel.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/glq-vs-tel/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: GLQ correlations · TEL correlations
