IT vs TYGO: Correlation
How closely do Gartner (IT) and Tigo Energy, Inc. (TYGO) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IT and TYGO?
On 3 years of weekly data the IT/TYGO correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.32 over 1 year against -0.22 over 3. The 5-year figure is -0.16, and annualized covariance runs at -885.2 %².
Within IT's tracked universe of 36 assets, TYGO comes in at #30 by 3-year correlation. Their 12-month results are close: -20.2% for IT against -18.4% for TYGO. Note the risk asymmetry: TYGO runs 2.5 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.
IT vs TYGO: side by side
| IT (Gartner) | TYGO (Tigo Energy, Inc.) | |
|---|---|---|
| 1-year return | -20.2% | -18.4% |
| 5-year return | -36.0% | -88.7% |
| Volatility (ann.) | 40.6% | 100.4% |
| Beta vs S&P 500 | 0.92 | 0.62 |
| Max drawdown (3Y) | -77.2% | -94.1% |
| Market cap | $12.4B | $0.1B |
| P/E (trailing) | 17.4 | 6.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | IT | TYGO |
|---|---|---|
| 2022 | +0.5% | +3.0% |
| 2023 | +34.2% | -79.5% |
| 2024 | +7.4% | -52.9% |
| 2025 | -47.9% | +40.1% |
| 2026 | -22.1% | -19.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IT and TYGO good diversifiers for each other?
Yes. With a correlation of -0.22, IT and TYGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between IT and TYGO?
The IT/TYGO correlation stands at -0.22 on a 3-year window (1 year: -0.32, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is TYGO a good diversifier for IT?
Yes. With a correlation of -0.22, IT and TYGO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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: IT correlations · TYGO correlations
