MMS vs TLF: Correlation
Maximus, Inc. (MMS) and Tandy Leather Factory, Inc. (TLF) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MMS and TLF?
Across a 3-year window, the weekly returns of MMS and TLF correlate at -0.23, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.26 over 1 year against -0.23 over 3. Stretching to 5 years gives -0.08, with an annualized covariance of -185.2 %².
TLF is close to the least connected end of MMS's tracked universe, ranking #11 of 12. Their recent paths diverged sharply: over the last 12 months TLF outperformed by 42.7 percentage points (-30.7% for MMS against +12.0% for TLF).
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.
MMS vs TLF: side by side
| MMS (Maximus, Inc.) | TLF (Tandy Leather Factory, Inc.) | |
|---|---|---|
| 1-year return | -30.7% | +12.0% |
| 5-year return | -25.0% | +11.5% |
| Volatility (ann.) | 30.4% | 26.5% |
| Beta vs S&P 500 | 0.50 | 0.23 |
| Max drawdown (3Y) | -45.1% | -34.9% |
| Market cap | $3.1B | – |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 2.14% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MMS | TLF |
|---|---|---|
| 2022 | -6.4% | -17.5% |
| 2023 | +16.0% | +0.2% |
| 2024 | -9.7% | +12.4% |
| 2025 | +17.5% | -20.9% |
| 2026 | -29.9% | +28.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MMS and TLF good diversifiers for each other?
Yes. With a correlation of -0.23, MMS and TLF have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MMS and TLF?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.26 over the last year and -0.08 over 5 years.
Is TLF a good diversifier for MMS?
Yes. With a correlation of -0.23, MMS and TLF 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/mms-vs-tlf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/mms-vs-tlf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: MMS correlations · TLF correlations
