RAYA vs TMO: Correlation
Erayak Power Solution Group Inc. - Class A (RAYA) and Thermo Fisher Scientific (TMO) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RAYA and TMO?
On 3 years of weekly data the RAYA/TMO correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.07 lands near the 3-year figure. The 5-year figure is -0.12, and annualized covariance runs at -777.5 %².
By 3-year correlation, TMO places #9 of the 20 assets tracked against RAYA. The last year tells two different stories: TMO led by 127.5 percentage points, -97.8% for RAYA against +29.7% for TMO. Note the risk asymmetry: RAYA runs 5.5 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.
RAYA vs TMO: side by side
| RAYA (Erayak Power Solution Group Inc. - Class A) | TMO (Thermo Fisher Scientific) | |
|---|---|---|
| 1-year return | -97.8% | +29.7% |
| 5-year return | n/a | +14.5% |
| Volatility (ann.) | 162.4% | 29.4% |
| Beta vs S&P 500 | 0.17 | 0.74 |
| Max drawdown (3Y) | -100.0% | -37.3% |
| Market cap | – | $233.2B |
| P/E (trailing) | – | 34.1 |
| Dividend yield | 0.00% | 0.28% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | RAYA | TMO |
|---|---|---|
| 2022 | – | -17.3% |
| 2023 | -44.7% | -3.4% |
| 2024 | +23.6% | -1.7% |
| 2025 | -98.7% | +11.8% |
| 2026 | -94.0% | +9.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RAYA and TMO good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between RAYA and TMO?
The RAYA/TMO correlation stands at -0.16 on a 3-year window (1 year: -0.07, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is TMO a good diversifier for RAYA?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/raya-vs-tmo.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/raya-vs-tmo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RAYA correlations · TMO correlations
