THRY vs TNC: Correlation
Thryv Holdings, Inc. (THRY) and Tennant Company (TNC) show a moderate relationship: their 3-year correlation of weekly returns is 0.53.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THRY and TNC?
On 3 years of weekly data the THRY/TNC correlation comes out at 0.53, moderate. The relationship has been stable: the 1-year correlation (0.53) sits close to the 3-year figure. The 5-year figure is 0.46, and annualized covariance runs at 1073.7 %².
TNC is one of the assets that tracks THRY most closely: it ranks #3 out of the 15 assets we track against THRY. Correlation aside, the last 12 months split them widely, with TNC ahead by 70.5 points (-85.5% versus -15.0%). Note the risk asymmetry: THRY runs 2.1 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.
THRY vs TNC: side by side
| THRY (Thryv Holdings, Inc.) | TNC (Tennant Company) | |
|---|---|---|
| 1-year return | -85.5% | -15.0% |
| 5-year return | -93.9% | +1.8% |
| Volatility (ann.) | 64.7% | 31.5% |
| Beta vs S&P 500 | 1.23 | 0.90 |
| Max drawdown (3Y) | -92.1% | -49.0% |
| Market cap | $0.1B | $1.2B |
| P/E (trailing) | – | 67.3 |
| Dividend yield | 0.00% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | THRY | TNC |
|---|---|---|
| 2022 | -53.8% | -22.8% |
| 2023 | +7.1% | +52.6% |
| 2024 | -27.3% | -11.0% |
| 2025 | -59.1% | -8.2% |
| 2026 | -68.6% | -4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THRY and TNC good diversifiers for each other?
To a limited degree. At 0.53 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 THRY and TNC?
Using weekly returns as of 2026-08-27: 0.53 over 3 years, with 0.53 over the last year and 0.46 over 5 years.
Is TNC a good diversifier for THRY?
To a limited degree. At 0.53 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 0.53 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/thry-vs-tnc.json
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Related comparisons
Hubs: THRY correlations · TNC correlations
