LYV vs TKO: Correlation
How closely do Live Nation Entertainment (LYV) and TKO Group Holdings (TKO) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYV and TKO?
Across a 3-year window, the weekly returns of LYV and TKO correlate at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. Stretching to 5 years gives 0.30, with an annualized covariance of 351.5 %².
By 3-year correlation, TKO places #18 of the 35 assets tracked against LYV. The trailing year gives LYV the advantage: +9.1% versus +0.8%, a 8.3-point spread. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.09 to 0.61.
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.
LYV vs TKO: side by side
| LYV (Live Nation Entertainment) | TKO (TKO Group Holdings) | |
|---|---|---|
| 1-year return | +9.1% | +0.8% |
| 5-year return | +108.7% | +281.8% |
| Volatility (ann.) | 28.1% | 32.1% |
| Beta vs S&P 500 | 1.02 | 0.70 |
| Max drawdown (3Y) | -27.8% | -34.8% |
| Market cap | $42.1B | $34.9B |
| P/E (trailing) | – | 65.8 |
| Dividend yield | 0.00% | 1.66% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | LYV | TKO |
|---|---|---|
| 2022 | -41.7% | +39.9% |
| 2023 | +34.2% | +23.9% |
| 2024 | +38.4% | +74.2% |
| 2025 | +10.0% | +48.9% |
| 2026 | +26.8% | -11.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYV and TKO good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LYV and TKO?
As of 2026-08-27, the correlation of weekly returns between LYV and TKO is 0.39 over 3 years, 0.36 over 1 year and 0.30 over 5 years.
Is TKO a good diversifier for LYV?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/lyv-vs-tko.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lyv-vs-tko/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LYV correlations · TKO correlations
