TII vs TNC: Correlation
How closely do Titan Mining Corporation (TII) and Tennant Company (TNC) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TII and TNC?
Over the past 3 years, TII and TNC moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.33 over 1 year against -0.23 over 3. Over 5 years the correlation is -0.12, and the annualized covariance of weekly returns is -673.9 %².
Among the 11 assets we track against TII, TNC sits near the bottom by co-movement, at rank #10. Their recent paths diverged sharply: over the last 12 months TII outperformed by 121.1 percentage points (+106.1% for TII against -15.0% for TNC). Note the risk asymmetry: TII runs 3.0 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.
TII vs TNC: side by side
| TII (Titan Mining Corporation) | TNC (Tennant Company) | |
|---|---|---|
| 1-year return | +106.1% | -15.0% |
| 5-year return | +633.2% | +1.8% |
| Volatility (ann.) | 94.7% | 31.5% |
| Beta vs S&P 500 | 0.43 | 0.90 |
| Max drawdown (3Y) | -63.6% | -49.0% |
| Market cap | $0.3B | $1.2B |
| P/E (trailing) | – | 67.3 |
| Dividend yield | 0.00% | 1.74% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TII | TNC |
|---|---|---|
| 2022 | -15.7% | -22.8% |
| 2023 | -25.1% | +52.6% |
| 2024 | -19.3% | -11.0% |
| 2025 | +826.4% | -8.2% |
| 2026 | -3.4% | -4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TII and TNC good diversifiers for each other?
Yes. With a correlation of -0.23, TII and TNC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TII and TNC?
As of 2026-08-27, the correlation of weekly returns between TII and TNC is -0.23 over 3 years, -0.33 over 1 year and -0.12 over 5 years.
Is TNC a good diversifier for TII?
Yes. With a correlation of -0.23, TII and TNC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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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Hubs: TII correlations · TNC correlations
