TMUS vs VZ: Correlation
T-Mobile US (TMUS) and Verizon (VZ) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TMUS and VZ?
On 3 years of weekly data the TMUS/VZ correlation comes out at 0.51, moderate. The relationship has been stable: the 1-year correlation (0.59) sits close to the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 288.7 %².
VZ is one of the assets that tracks TMUS most closely: it ranks #2 out of the 31 assets we track against TMUS. Their recent paths diverged sharply: over the last 12 months VZ outperformed by 47.3 percentage points (-28.0% for TMUS against +19.3% for VZ). The rolling one-year correlation moved between 0.28 and 0.72 over the past three years, a moderate range.
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.
TMUS vs VZ: side by side
| TMUS (T-Mobile US) | VZ (Verizon) | |
|---|---|---|
| 1-year return | -28.0% | +19.3% |
| 5-year return | +34.8% | +23.8% |
| Volatility (ann.) | 24.6% | 22.9% |
| Beta vs S&P 500 | 0.36 | 0.15 |
| Max drawdown (3Y) | -37.1% | -17.0% |
| Market cap | $190.7B | $205.4B |
| P/E (trailing) | 18.8 | 12.9 |
| Dividend yield | 2.27% | 5.57% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | TMUS | VZ |
|---|---|---|
| 2022 | +20.7% | -20.0% |
| 2023 | +15.0% | +2.7% |
| 2024 | +39.7% | +13.1% |
| 2025 | -6.6% | +8.9% |
| 2026 | -11.6% | +27.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TMUS and VZ good diversifiers for each other?
Only partially. A correlation of 0.51 means TMUS and VZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between TMUS and VZ?
As of 2026-08-27, the correlation of weekly returns between TMUS and VZ is 0.51 over 3 years, 0.59 over 1 year and 0.49 over 5 years.
Is VZ a good diversifier for TMUS?
Only partially. A correlation of 0.51 means TMUS and VZ share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 mean?
A reading of 0.51 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: TMUS correlations · VZ correlations
