ANET vs WEN: Correlation
Measured on weekly returns over the past three years, Arista Networks (ANET) and Wendy's Company (The) (WEN) carry a correlation of -0.15, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANET and WEN?
Across a 3-year window, the weekly returns of ANET and WEN correlate at -0.15, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.31) runs below the 3-year figure (-0.15). Stretching to 5 years gives -0.03, with an annualized covariance of -226.4 %².
Among the 35 assets we track against ANET, WEN ranks #29 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ANET outperformed by 71.0 percentage points (+50.9% for ANET against -20.1% for WEN). Note the risk asymmetry: ANET runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ANET vs WEN: side by side
| ANET (Arista Networks) | WEN (Wendy's Company (The)) | |
|---|---|---|
| 1-year return | +50.9% | -20.1% |
| 5-year return | +764.7% | -56.6% |
| Volatility (ann.) | 49.3% | 31.4% |
| Beta vs S&P 500 | 2.20 | 0.40 |
| Max drawdown (3Y) | -50.4% | -66.3% |
| Market cap | $253.6B | $1.5B |
| P/E (trailing) | 64.0 | 11.8 |
| Dividend yield | 0.00% | 6.19% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | ANET | WEN |
|---|---|---|
| 2022 | -15.6% | -2.8% |
| 2023 | +94.1% | -9.7% |
| 2024 | +87.7% | -11.4% |
| 2025 | +18.5% | -45.8% |
| 2026 | +53.5% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANET and WEN good diversifiers for each other?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ANET and WEN?
Using weekly returns as of 2026-08-27: -0.15 over 3 years, with -0.31 over the last year and -0.03 over 5 years.
Is WEN a good diversifier for ANET?
Yes: at -0.15, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 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/anet-vs-wen.json
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Related comparisons
Hubs: ANET correlations · WEN correlations
