REFR vs TDC: Correlation
How closely do Research Frontiers Incorporated (REFR) and Teradata Corporation (TDC) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REFR and TDC?
Over the past 3 years, REFR and TDC moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.38) than the 3-year average (-0.26). Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -768.4 %².
TDC is close to the least connected end of REFR's tracked universe, ranking #10 of 11. Correlation aside, the last 12 months split them widely, with TDC ahead by 100.7 points (-65.4% versus +35.3%). Risk is not evenly split, since REFR carries 1.6 times the volatility of the other side.
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.
REFR vs TDC: side by side
| REFR (Research Frontiers Incorporated) | TDC (Teradata Corporation) | |
|---|---|---|
| 1-year return | -65.4% | +35.3% |
| 5-year return | -78.3% | -46.9% |
| Volatility (ann.) | 68.5% | 44.0% |
| Beta vs S&P 500 | 0.52 | 0.83 |
| Max drawdown (3Y) | -83.5% | -60.8% |
| Market cap | – | $2.7B |
| P/E (trailing) | – | 5.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | REFR | TDC |
|---|---|---|
| 2022 | +11.0% | -20.7% |
| 2023 | -47.1% | +29.3% |
| 2024 | +69.3% | -28.4% |
| 2025 | -23.4% | -2.3% |
| 2026 | -63.0% | -6.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REFR and TDC good diversifiers for each other?
Yes. With a correlation of -0.26, REFR and TDC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between REFR and TDC?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.38 over the last year and -0.12 over 5 years.
Is TDC a good diversifier for REFR?
Yes. With a correlation of -0.26, REFR and TDC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/refr-vs-tdc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/refr-vs-tdc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: REFR correlations · TDC correlations
