Maximum relative distance between real rank-two and rank-one tensors

It is shown that the relative distance in Frobenius norm of a real symmetric order-$d$ tensor of rank two to its best rank-one approximation is upper bounded by $\sqrt{1-(1-1/d)^{d-1}}$. This is achieved by determining the minimal possible ratio between spectral and Frobenius norm for symmetric tensors of border rank two, which equals $\left(1-{1}/{d}\right)^{(d-1)/{2}}$. These bounds are also verified for arbitrary real rank-two tensors by reducing to the symmetric case.