PDCC vs TNDM: Correlation
Pearl Diver Credit Company Inc. (PDCC) and Tandem Diabetes Care, Inc. (TNDM) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDCC and TNDM?
Across a 3-year window, the weekly returns of PDCC and TNDM correlate at -0.27, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -500.7 %².
Within PDCC's tracked universe of 18 assets, TNDM comes in at #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TNDM outperformed by 112.7 percentage points (-38.0% for PDCC against +74.7% for TNDM). Note the risk asymmetry: TNDM runs 2.7 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PDCC vs TNDM: side by side
| PDCC (Pearl Diver Credit Company Inc.) | TNDM (Tandem Diabetes Care, Inc.) | |
|---|---|---|
| 1-year return | -38.0% | +74.7% |
| 5-year return | n/a | -80.9% |
| Volatility (ann.) | 26.4% | 71.1% |
| Beta vs S&P 500 | 0.17 | 0.84 |
| Max drawdown (3Y) | -47.3% | -81.1% |
| Market cap | $0.1B | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PDCC | TNDM |
|---|---|---|
| 2022 | – | -70.1% |
| 2023 | – | -34.2% |
| 2024 | – | +21.8% |
| 2025 | -20.9% | -39.0% |
| 2026 | -27.7% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDCC and TNDM good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between PDCC and TNDM?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.32 over the last year and n/a over 5 years.
Is TNDM a good diversifier for PDCC?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 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/pdcc-vs-tndm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pdcc-vs-tndm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PDCC correlations · TNDM correlations
