GLW vs TDY: Correlation
How closely do Corning Inc. (GLW) and Teledyne Technologies (TDY) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GLW and TDY?
Across a 3-year window, the weekly returns of GLW and TDY correlate at 0.40, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.40 over 3. Stretching to 5 years gives 0.37, with an annualized covariance of 370.3 %².
Among the 37 assets we track against GLW, TDY ranks #18 by 3-year correlation. The last year tells two different stories: GLW led by 114.0 percentage points, +129.7% for GLW against +15.7% for TDY. Across three years, the rolling one-year figure varied moderately, from 0.25 to 0.62. Note the risk asymmetry: GLW runs 1.9 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.
GLW vs TDY: side by side
| GLW (Corning Inc.) | TDY (Teledyne Technologies) | |
|---|---|---|
| 1-year return | +129.7% | +15.7% |
| 5-year return | +331.4% | +36.5% |
| Volatility (ann.) | 42.1% | 22.0% |
| Beta vs S&P 500 | 1.15 | 0.76 |
| Max drawdown (3Y) | -51.5% | -18.8% |
| Market cap | $131.6B | $29.0B |
| P/E (trailing) | 70.4 | 30.7 |
| Dividend yield | 0.73% | 0.00% |
| Sector / category | Information Technology | Information Technology |
Year-by-year returns
| Year | GLW | TDY |
|---|---|---|
| 2022 | -11.6% | -8.5% |
| 2023 | -1.2% | +11.6% |
| 2024 | +60.6% | +4.0% |
| 2025 | +87.8% | +10.0% |
| 2026 | +75.1% | +22.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GLW and TDY good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GLW and TDY?
As of 2026-08-27, the correlation of weekly returns between GLW and TDY is 0.40 over 3 years, 0.34 over 1 year and 0.37 over 5 years.
Is TDY a good diversifier for GLW?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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.
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Related comparisons
Hubs: GLW correlations · TDY correlations
