ADV vs WD: Correlation
Measured on weekly returns over the past three years, Advantage Solutions Inc. (ADV) and Walker & Dunlop, Inc (WD) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADV and WD?
Across a 3-year window, the weekly returns of ADV and WD correlate at 0.44, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.44 over 3. Stretching to 5 years gives 0.43, with an annualized covariance of 1392.8 %².
Within ADV's tracked universe of 11 assets, WD comes in at #4 by 3-year correlation. The last year tells two different stories: ADV led by 23.7 percentage points, -27.3% for ADV against -51.0% for WD. Risk is not evenly split, since ADV carries 2.1 times the volatility of the other side.
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.
ADV vs WD: side by side
| ADV (Advantage Solutions Inc.) | WD (Walker & Dunlop, Inc) | |
|---|---|---|
| 1-year return | -27.3% | -51.0% |
| 5-year return | -84.9% | -53.5% |
| Volatility (ann.) | 82.5% | 38.5% |
| Beta vs S&P 500 | 1.06 | 1.12 |
| Max drawdown (3Y) | -89.3% | -63.4% |
| Market cap | $0.4B | $1.4B |
| P/E (trailing) | – | 36.0 |
| Dividend yield | 0.00% | 6.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADV | WD |
|---|---|---|
| 2022 | -74.1% | -46.8% |
| 2023 | +74.0% | +46.0% |
| 2024 | -19.3% | -10.1% |
| 2025 | -69.9% | -35.9% |
| 2026 | +52.0% | -29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADV and WD good diversifiers for each other?
Reasonably. At 0.44, ADV and WD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ADV and WD?
The ADV/WD correlation stands at 0.44 on a 3-year window (1 year: 0.40, 5 years: 0.43), computed from weekly returns as of 2026-08-27.
Is WD a good diversifier for ADV?
Reasonably. At 0.44, ADV and WD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/adv-vs-wd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/adv-vs-wd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ADV correlations · WD correlations
