TEM vs UPST: Correlation
How closely do Tempus AI, Inc. (TEM) and Upstart Holdings, Inc. (UPST) trade together? Their weekly returns over three years give a correlation of 0.54, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TEM and UPST?
On 3 years of weekly data the TEM/UPST correlation comes out at 0.54, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 5072.3 %².
Among the 39 assets we track against TEM, UPST ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TEM ahead by 52.7 points (-3.5% versus -56.2%).
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.
TEM vs UPST: side by side
| TEM (Tempus AI, Inc.) | UPST (Upstart Holdings, Inc.) | |
|---|---|---|
| 1-year return | -3.5% | -56.2% |
| 5-year return | n/a | -85.9% |
| Volatility (ann.) | 104.7% | 91.0% |
| Beta vs S&P 500 | 3.25 | 3.51 |
| Max drawdown (3Y) | -59.8% | -72.7% |
| Market cap | $12.8B | $3.0B |
| P/E (trailing) | – | 58.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TEM | UPST |
|---|---|---|
| 2022 | – | -91.3% |
| 2023 | – | +209.1% |
| 2024 | – | +50.7% |
| 2025 | +74.9% | -29.0% |
| 2026 | +19.7% | -30.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TEM and UPST good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between TEM and UPST?
The TEM/UPST correlation stands at 0.54 on a 3-year window (1 year: 0.53, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is UPST a good diversifier for TEM?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
On the −1 to +1 scale, 0.54 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.
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Related comparisons
Hubs: TEM correlations · UPST correlations
