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AWK vs WDC: Correlation

American Water Works (AWK) and Western Digital (WDC) show a negative relationship: their 3-year correlation of weekly returns is -0.23.

Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology

Correlation (3Y)
-0.23
negative
Correlation (1Y)
-0.45
last 12 months
Correlation (5Y)
-0.04
long-run
Ann. covariance
-279.1
%² · weekly, annualized

How correlated are AWK and WDC?

On 3 years of weekly data the AWK/WDC correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.45) than the 3-year average (-0.23). The 5-year figure is -0.04, and annualized covariance runs at -279.1 %².

Among the 49 assets we track against AWK, WDC ranks #36 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WDC outperformed by 477.3 percentage points (-3.0% for AWK against +474.3% for WDC). The relationship is regime-dependent: the rolling one-year correlation swung between -0.48 and 0.24 over the past three years, so this pair behaves very differently depending on the market environment. Note the risk asymmetry: WDC runs 2.8 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.

+1.0+0.50-0.5-1.020232026-08-27
How the one-year correlation itself moved over the past three years.
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.

AWK vs WDC: side by side

AWK (American Water Works)WDC (Western Digital)
1-year return-3.0%+474.3%
5-year return-16.6%+889.2%
Volatility (ann.)20.7%58.0%
Beta vs S&P 500-0.112.15
Max drawdown (3Y)-18.8%-49.6%
Market cap$27.2B$166.6B
P/E (trailing)23.717.4
Dividend yield2.46%0.11%
Sector / categoryUtilitiesInformation Technology
Lower P/E: WDC 17.4 vs 23.7Higher yield: AWK 2.46% vs 0.11%Smaller drawdown: AWK -18.8% vs -49.6%Higher 5y return: WDC +889.2% vs -16.6%
-13%0%+712%2025-09-052026-08-27
Both assets over the last year, indexed to 100 at the starting week. ■ AWK · ■ WDC

Year-by-year returns

YearAWKWDC
2022-17.9%-51.6%
2023-11.7%+66.0%
2024-3.5%+13.9%
2025+7.4%+283.7%
2026+6.9%+168.4%

Calendar-year price returns; the current year is year-to-date as of the data date above.

Are AWK and WDC good diversifiers for each other?

By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.

FAQ

What is the correlation between AWK and WDC?

Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.45 over the last year and -0.04 over 5 years.

Is WDC a good diversifier for AWK?

By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.

What does a correlation of -0.23 mean?

A reading of -0.23 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

JSON API · no key required
$ curl https://www.pairbook.io/api/v1/pairs/awk-vs-wdc.json

AWK vs WDC: 3-year weekly correlation -0.23AWK vs WDC-0.23

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The core API is free. Terms and every endpoint in the API documentation.

Related comparisons

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Hubs: AWK correlations · WDC correlations