LYV vs TMUS: Correlation
Measured on weekly returns over the past three years, Live Nation Entertainment (LYV) and T-Mobile US (TMUS) carry a correlation of 0.25, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LYV and TMUS?
Over the past 3 years, LYV and TMUS moved with a correlation of 0.25, which is weak. Little has changed lately, as the 1-year reading of 0.25 lands near the 3-year figure. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 173.7 %².
Among the 35 assets we track against LYV, TMUS ranks #24 by 3-year correlation. The last year tells two different stories: LYV led by 37.1 percentage points, +9.1% for LYV against -28.0% for TMUS. The rolling one-year correlation moved between -0.03 and 0.38 over the past three years, a moderate range.
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 TMUS: side by side
| LYV (Live Nation Entertainment) | TMUS (T-Mobile US) | |
|---|---|---|
| 1-year return | +9.1% | -28.0% |
| 5-year return | +108.7% | +34.8% |
| Volatility (ann.) | 28.1% | 24.6% |
| Beta vs S&P 500 | 1.02 | 0.36 |
| Max drawdown (3Y) | -27.8% | -37.1% |
| Market cap | $42.1B | $190.7B |
| P/E (trailing) | – | 18.8 |
| Dividend yield | 0.00% | 2.27% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | LYV | TMUS |
|---|---|---|
| 2022 | -41.7% | +20.7% |
| 2023 | +34.2% | +15.0% |
| 2024 | +38.4% | +39.7% |
| 2025 | +10.0% | -6.6% |
| 2026 | +26.8% | -11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LYV and TMUS good diversifiers for each other?
Reasonably. At 0.25, LYV and TMUS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between LYV and TMUS?
The LYV/TMUS correlation stands at 0.25 on a 3-year window (1 year: 0.25, 5 years: 0.26), computed from weekly returns as of 2026-08-27.
Is TMUS a good diversifier for LYV?
Reasonably. At 0.25, LYV and TMUS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.25 mean?
On the −1 to +1 scale, 0.25 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lyv-vs-tmus.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lyv-vs-tmus/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: LYV correlations · TMUS correlations
