PAM vs TEO: Correlation
Measured on weekly returns over the past three years, Pampa Energia S.A. (PAM) and Telecom Argentina SA (TEO) carry a correlation of 0.74, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PAM and TEO?
Over the past 3 years, PAM and TEO moved with a correlation of 0.74, which is strong. The relationship has been stable: the 1-year correlation (0.83) sits close to the 3-year figure. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 2093.3 %².
Within PAM's tracked universe of 21 assets, TEO comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TEO ahead by 31.4 points (+22.4% versus +53.8%).
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.
PAM vs TEO: side by side
| PAM (Pampa Energia S.A.) | TEO (Telecom Argentina SA) | |
|---|---|---|
| 1-year return | +22.4% | +53.8% |
| 5-year return | +339.3% | +180.0% |
| Volatility (ann.) | 45.3% | 62.0% |
| Beta vs S&P 500 | 0.38 | 0.67 |
| Max drawdown (3Y) | -40.4% | -54.0% |
| Market cap | $4.3B | – |
| P/E (trailing) | 7.3 | 10.9 |
| Dividend yield | 0.00% | 102.04% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PAM | TEO |
|---|---|---|
| 2022 | +51.3% | +14.3% |
| 2023 | +55.0% | +37.9% |
| 2024 | +77.6% | +79.3% |
| 2025 | +0.6% | -7.8% |
| 2026 | -8.3% | +12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PAM and TEO good diversifiers for each other?
Only partially. A correlation of 0.74 means PAM and TEO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between PAM and TEO?
The PAM/TEO correlation stands at 0.74 on a 3-year window (1 year: 0.83, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is TEO a good diversifier for PAM?
Only partially. A correlation of 0.74 means PAM and TEO share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.74 mean?
A reading of 0.74 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/pam-vs-teo.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pam-vs-teo/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PAM correlations · TEO correlations
