IFBD vs TIGO: Correlation
How closely do Infobird Co., Ltd (IFBD) and Millicom International Cellular S.A. (TIGO) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IFBD and TIGO?
Across a 3-year window, the weekly returns of IFBD and TIGO correlate at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.13 lands near the 3-year figure. Stretching to 5 years gives -0.08, with an annualized covariance of -1044.1 %².
Out of 14 assets tracked against IFBD, TIGO lands near the bottom at #11. Their recent paths diverged sharply: over the last 12 months TIGO outperformed by 126.5 percentage points (-12.5% for IFBD against +114.0% for TIGO). Note the risk asymmetry: IFBD runs 4.6 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.
IFBD vs TIGO: side by side
| IFBD (Infobird Co., Ltd) | TIGO (Millicom International Cellular S.A.) | |
|---|---|---|
| 1-year return | -12.5% | +114.0% |
| 5-year return | -100.0% | +193.9% |
| Volatility (ann.) | 145.7% | 31.5% |
| Beta vs S&P 500 | 0.85 | 0.20 |
| Max drawdown (3Y) | -98.4% | -17.7% |
| Market cap | – | $15.6B |
| P/E (trailing) | – | 23.3 |
| Dividend yield | 0.00% | 3.12% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IFBD | TIGO |
|---|---|---|
| 2022 | -88.9% | -55.6% |
| 2023 | -97.8% | +42.5% |
| 2024 | -78.4% | +38.9% |
| 2025 | -57.9% | +152.3% |
| 2026 | -4.3% | +76.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IFBD and TIGO good diversifiers for each other?
Yes. With a correlation of -0.23, IFBD and TIGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IFBD and TIGO?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.13 over the last year and -0.08 over 5 years.
Is TIGO a good diversifier for IFBD?
Yes. With a correlation of -0.23, IFBD and TIGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 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/ifbd-vs-tigo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ifbd-vs-tigo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: IFBD correlations · TIGO correlations
