T vs TMUS: Correlation
Measured on weekly returns over the past three years, AT&T (T) and T-Mobile US (TMUS) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are T and TMUS?
Over the past 3 years, T and TMUS moved with a correlation of 0.52, which is moderate. Recent behaviour matches the longer record: 0.55 over 1 year against 0.52 over 3. Over 5 years the correlation is 0.44, and the annualized covariance of weekly returns is 284.9 %².
Few assets follow T as closely as TMUS, which ranks #2 of 32 tracked partners. The last year tells two different stories: T led by 19.6 percentage points, -8.4% for T against -28.0% for TMUS. Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from 0.17 to 0.74.
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.
T vs TMUS: side by side
| T (AT&T) | TMUS (T-Mobile US) | |
|---|---|---|
| 1-year return | -8.4% | -28.0% |
| 5-year return | +67.2% | +34.8% |
| Volatility (ann.) | 22.4% | 24.6% |
| Beta vs S&P 500 | 0.05 | 0.36 |
| Max drawdown (3Y) | -28.9% | -37.1% |
| Market cap | $174.3B | $190.7B |
| P/E (trailing) | 8.4 | 18.8 |
| Dividend yield | 4.29% | 2.27% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | T | TMUS |
|---|---|---|
| 2022 | +6.5% | +20.7% |
| 2023 | -2.7% | +15.0% |
| 2024 | +44.1% | +39.7% |
| 2025 | +14.0% | -6.6% |
| 2026 | +6.1% | -11.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are T and TMUS good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between T and TMUS?
The T/TMUS correlation stands at 0.52 on a 3-year window (1 year: 0.55, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is TMUS a good diversifier for T?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 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/t-vs-tmus.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/t-vs-tmus/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: T correlations · TMUS correlations
