PDEX vs TRNO: Correlation
How closely do Pro-Dex, Inc. (PDEX) and Terreno Realty Corporation (TRNO) trade together? Their weekly returns over three years give a correlation of -0.28, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PDEX and TRNO?
On 3 years of weekly data the PDEX/TRNO correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.28). The 5-year figure is -0.21, and annualized covariance runs at -409.1 %².
Among the 31 assets we track against PDEX, TRNO sits near the bottom by co-movement, at rank #30. The last year tells two different stories: PDEX led by 22.4 percentage points, +42.5% for PDEX against +20.1% for TRNO. One caveat on sizing: PDEX is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PDEX vs TRNO: side by side
| PDEX (Pro-Dex, Inc.) | TRNO (Terreno Realty Corporation) | |
|---|---|---|
| 1-year return | +42.5% | +20.1% |
| 5-year return | +152.4% | +15.7% |
| Volatility (ann.) | 59.6% | 24.4% |
| Beta vs S&P 500 | 0.17 | 0.66 |
| Max drawdown (3Y) | -65.3% | -26.3% |
| Market cap | $0.2B | $7.3B |
| P/E (trailing) | 17.5 | 18.1 |
| Dividend yield | 0.00% | 3.08% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PDEX | TRNO |
|---|---|---|
| 2022 | -31.5% | -31.6% |
| 2023 | +10.2% | +13.4% |
| 2024 | +166.8% | -2.8% |
| 2025 | -17.7% | +2.7% |
| 2026 | +68.6% | +16.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PDEX and TRNO good diversifiers for each other?
Yes. With a correlation of -0.28, PDEX and TRNO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PDEX and TRNO?
The PDEX/TRNO correlation stands at -0.28 on a 3-year window (1 year: -0.39, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is TRNO a good diversifier for PDEX?
Yes. With a correlation of -0.28, PDEX and TRNO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/pdex-vs-trno.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pdex-vs-trno/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PDEX correlations · TRNO correlations
