TDS vs XBP: Correlation
Measured on weekly returns over the past three years, Telephone and Data Systems, Inc. (TDS) and XBP Global Holdings, Inc. (XBP) carry a correlation of 0.31, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TDS and XBP?
Across a 3-year window, the weekly returns of TDS and XBP correlate at 0.31, moderate. The past 12 months show a weaker link (0.08) than the 3-year average (0.31). Stretching to 5 years gives 0.18, with an annualized covariance of 2073.5 %².
By 3-year correlation, XBP places #10 of the 15 assets tracked against TDS. The last year tells two different stories: TDS led by 35.2 percentage points, -17.0% for TDS against -52.2% for XBP. Note the risk asymmetry: XBP runs 3.1 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.
TDS vs XBP: side by side
| TDS (Telephone and Data Systems, Inc.) | XBP (XBP Global Holdings, Inc.) | |
|---|---|---|
| 1-year return | -17.0% | -52.2% |
| 5-year return | +91.9% | -97.1% |
| Volatility (ann.) | 46.7% | 145.1% |
| Beta vs S&P 500 | 0.86 | -0.32 |
| Max drawdown (3Y) | -33.4% | -99.5% |
| Market cap | $3.8B | – |
| P/E (trailing) | 8.3 | – |
| Dividend yield | 0.48% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TDS | XBP |
|---|---|---|
| 2022 | -45.3% | +4.3% |
| 2023 | +86.3% | -49.1% |
| 2024 | +89.0% | -79.4% |
| 2025 | +20.7% | -37.5% |
| 2026 | -19.0% | -57.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TDS and XBP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between TDS and XBP?
As of 2026-08-27, the correlation of weekly returns between TDS and XBP is 0.31 over 3 years, 0.08 over 1 year and 0.18 over 5 years.
Is XBP a good diversifier for TDS?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 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/tds-vs-xbp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/tds-vs-xbp/)
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Related comparisons
Hubs: TDS correlations · XBP correlations
