M vs TNDM: Correlation
How closely do Macy's Inc (M) and Tandem Diabetes Care, Inc. (TNDM) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are M and TNDM?
Across a 3-year window, the weekly returns of M and TNDM correlate at 0.38, moderate. The past 12 months show a weaker link (0.24) than the 3-year average (0.38). Stretching to 5 years gives 0.34, with an annualized covariance of 1343.6 %².
By 3-year correlation, TNDM places #9 of the 14 assets tracked against M. Their 12-month results are close: +71.8% for M against +74.7% for TNDM.
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.
M vs TNDM: side by side
| M (Macy's Inc) | TNDM (Tandem Diabetes Care, Inc.) | |
|---|---|---|
| 1-year return | +71.8% | +74.7% |
| 5-year return | +21.5% | -80.9% |
| Volatility (ann.) | 49.3% | 71.1% |
| Beta vs S&P 500 | 1.06 | 0.84 |
| Max drawdown (3Y) | -51.3% | -81.1% |
| Market cap | $5.9B | $1.5B |
| P/E (trailing) | 9.4 | – |
| Dividend yield | 3.24% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | M | TNDM |
|---|---|---|
| 2022 | -18.7% | -70.1% |
| 2023 | +1.6% | -34.2% |
| 2024 | -12.4% | +21.8% |
| 2025 | +36.5% | -39.0% |
| 2026 | +4.0% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are M and TNDM good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between M and TNDM?
As of 2026-08-27, the correlation of weekly returns between M and TNDM is 0.38 over 3 years, 0.24 over 1 year and 0.34 over 5 years.
Is TNDM a good diversifier for M?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 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/m-vs-tndm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/m-vs-tndm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: M correlations · TNDM correlations
