HD vs TJX: Correlation
How closely do Home Depot (The) (HD) and TJX Companies (TJX) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HD and TJX?
Over the past 3 years, HD and TJX moved with a correlation of 0.48, which is moderate. The past 12 months show a weaker link (0.37) than the 3-year average (0.48). Over 5 years the correlation is 0.52, and the annualized covariance of weekly returns is 206.5 %².
Within HD's tracked universe of 54 assets, TJX comes in at #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TJX ahead by 16.4 points (-17.4% versus -1.0%). On a rolling one-year basis the correlation drifted between 0.30 and 0.75, a moderate band.
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.
HD vs TJX: side by side
| HD (Home Depot (The)) | TJX (TJX Companies) | |
|---|---|---|
| 1-year return | -17.4% | -1.0% |
| 5-year return | +13.8% | +98.2% |
| Volatility (ann.) | 23.6% | 18.3% |
| Beta vs S&P 500 | 0.87 | 0.45 |
| Max drawdown (3Y) | -28.8% | -20.1% |
| Market cap | $327.9B | $148.3B |
| P/E (trailing) | 23.4 | 24.9 |
| Dividend yield | 1.38% | 1.32% |
| Sector / category | Consumer Discretionary | Consumer Discretionary |
Year-by-year returns
| Year | HD | TJX |
|---|---|---|
| 2022 | -22.0% | +6.7% |
| 2023 | +12.8% | +19.7% |
| 2024 | +15.0% | +30.6% |
| 2025 | -9.3% | +28.7% |
| 2026 | -3.1% | -11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HD and TJX good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between HD and TJX?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.37 over the last year and 0.52 over 5 years.
Is TJX a good diversifier for HD?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hd-vs-tjx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hd-vs-tjx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HD correlations · TJX correlations
