OC vs TGLS: Correlation
How closely do Owens Corning Inc (OC) and Tecnoglass Holdings Inc. (TGLS) trade together? Their weekly returns over three years give a correlation of 0.52, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OC and TGLS?
Across a 3-year window, the weekly returns of OC and TGLS correlate at 0.52, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.70 versus 0.52 over 3 years. Stretching to 5 years gives 0.41, with an annualized covariance of 762.3 %².
Among the 24 assets we track against OC, TGLS ranks #15 by 3-year correlation. The last year tells two different stories: OC led by 40.8 percentage points, -3.6% for OC against -44.4% for TGLS.
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.
OC vs TGLS: side by side
| OC (Owens Corning Inc) | TGLS (Tecnoglass Holdings Inc.) | |
|---|---|---|
| 1-year return | -3.6% | -44.4% |
| 5-year return | +60.3% | +85.6% |
| Volatility (ann.) | 35.1% | 41.6% |
| Beta vs S&P 500 | 1.41 | 1.28 |
| Max drawdown (3Y) | -52.5% | -56.8% |
| Market cap | $11.4B | $1.8B |
| P/E (trailing) | – | 14.1 |
| Dividend yield | 2.10% | 1.47% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OC | TGLS |
|---|---|---|
| 2022 | -4.2% | +18.9% |
| 2023 | +77.2% | +49.9% |
| 2024 | +16.6% | +74.9% |
| 2025 | -33.0% | -36.3% |
| 2026 | +30.9% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OC and TGLS good diversifiers for each other?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between OC and TGLS?
Using weekly returns as of 2026-08-27: 0.52 over 3 years, with 0.70 over the last year and 0.41 over 5 years.
Is TGLS a good diversifier for OC?
Somewhat, no more. With 0.52 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.52 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/oc-vs-tgls.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/oc-vs-tgls/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OC correlations · TGLS correlations
