TSM vs UGI: Correlation
Measured on weekly returns over the past three years, Taiwan Semiconductor Manufacturing Company Ltd. (TSM) and UGI Corporation (UGI) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TSM and UGI?
On 3 years of weekly data the TSM/UGI correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. The 5-year figure is 0.02, and annualized covariance runs at -192.6 %².
Out of 16 assets tracked against TSM, UGI lands near the bottom at #13. The last year tells two different stories: TSM led by 66.7 percentage points, +80.5% for TSM against +13.8% for UGI.
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.
TSM vs UGI: side by side
| TSM (Taiwan Semiconductor Manufacturing Company Ltd.) | UGI (UGI Corporation) | |
|---|---|---|
| 1-year return | +80.5% | +13.8% |
| 5-year return | +289.6% | +3.7% |
| Volatility (ann.) | 34.9% | 28.1% |
| Beta vs S&P 500 | 1.59 | 0.14 |
| Max drawdown (3Y) | -36.8% | -19.6% |
| Market cap | $2,216.2B | $8.2B |
| P/E (trailing) | 31.1 | 12.8 |
| Dividend yield | 6.22% | 3.90% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TSM | UGI |
|---|---|---|
| 2022 | -36.7% | -16.1% |
| 2023 | +42.3% | -29.8% |
| 2024 | +92.6% | +21.9% |
| 2025 | +55.9% | +38.3% |
| 2026 | +41.3% | +4.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TSM and UGI good diversifiers for each other?
Yes. With a correlation of -0.20, TSM and UGI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TSM and UGI?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.20 over the last year and 0.02 over 5 years.
Is UGI a good diversifier for TSM?
Yes. With a correlation of -0.20, TSM and UGI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 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
$ curl https://www.pairbook.io/api/v1/pairs/tsm-vs-ugi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tsm-vs-ugi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TSM correlations · UGI correlations
