RGS vs TECX: Correlation
Regis Corporation (RGS) and Tectonic Therapeutic, Inc. (TECX) show a very strong relationship: their 3-year correlation of weekly returns is 0.92.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RGS and TECX?
On 3 years of weekly data the RGS/TECX correlation comes out at 0.92, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (-0.28) runs below the 3-year figure (0.92). The 5-year figure is 0.84, and annualized covariance runs at 131056.3 %².
TECX is one of the assets that tracks RGS most closely: it ranks #1 out of the 14 assets we track against RGS. Their recent paths diverged sharply: over the last 12 months TECX outperformed by 18.5 percentage points (+19.7% for RGS against +38.2% for TECX). One caveat on sizing: TECX is 2.8 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.
RGS vs TECX: side by side
| RGS (Regis Corporation) | TECX (Tectonic Therapeutic, Inc.) | |
|---|---|---|
| 1-year return | +19.7% | +38.2% |
| 5-year return | -75.3% | -52.9% |
| Volatility (ann.) | 226.7% | 628.0% |
| Beta vs S&P 500 | 0.65 | 0.20 |
| Max drawdown (3Y) | -81.1% | -92.8% |
| Market cap | – | $0.7B |
| P/E (trailing) | 0.6 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RGS | TECX |
|---|---|---|
| 2022 | -29.9% | -81.6% |
| 2023 | -61.3% | +91.5% |
| 2024 | +151.0% | +182.9% |
| 2025 | +17.0% | -54.8% |
| 2026 | -2.7% | +75.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RGS and TECX good diversifiers for each other?
No. With a correlation of 0.92, RGS and TECX move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between RGS and TECX?
Using weekly returns as of 2026-08-27: 0.92 over 3 years, with -0.28 over the last year and 0.84 over 5 years.
Is TECX a good diversifier for RGS?
No. With a correlation of 0.92, RGS and TECX move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.92 mean?
On the −1 to +1 scale, 0.92 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/rgs-vs-tecx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/rgs-vs-tecx/)
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Related comparisons
Hubs: RGS correlations · TECX correlations
