TMO vs WMB: Correlation
Measured on weekly returns over the past three years, Thermo Fisher Scientific (TMO) and Williams Companies (WMB) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TMO and WMB?
Across a 3-year window, the weekly returns of TMO and WMB correlate at -0.16, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.33 versus -0.16 over 3 years. Stretching to 5 years gives -0.02, with an annualized covariance of -112.3 %².
Among the 38 assets we track against TMO, WMB ranks #30 by 3-year correlation. Their 12-month results are close: +29.7% for TMO against +33.1% for WMB. The relationship is regime-dependent: the rolling one-year correlation swung between -0.44 and 0.38 over the past three years, so this pair behaves very differently depending on the market environment.
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.
TMO vs WMB: side by side
| TMO (Thermo Fisher Scientific) | WMB (Williams Companies) | |
|---|---|---|
| 1-year return | +29.7% | +33.1% |
| 5-year return | +14.5% | +279.9% |
| Volatility (ann.) | 29.4% | 24.0% |
| Beta vs S&P 500 | 0.74 | 0.34 |
| Max drawdown (3Y) | -37.3% | -12.4% |
| Market cap | $233.2B | $90.7B |
| P/E (trailing) | 34.1 | 29.7 |
| Dividend yield | 0.28% | 2.76% |
| Sector / category | Health Care | Energy |
Year-by-year returns
| Year | TMO | WMB |
|---|---|---|
| 2022 | -17.3% | +32.8% |
| 2023 | -3.4% | +11.9% |
| 2024 | -1.7% | +62.3% |
| 2025 | +11.8% | +14.9% |
| 2026 | +9.1% | +25.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TMO and WMB good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between TMO and WMB?
As of 2026-08-27, the correlation of weekly returns between TMO and WMB is -0.16 over 3 years, -0.33 over 1 year and -0.02 over 5 years.
Is WMB a good diversifier for TMO?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 mean?
A reading of -0.16 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: TMO correlations · WMB correlations
