BFLY vs W: Correlation
Measured on weekly returns over the past three years, Butterfly Network, Inc. (BFLY) and Wayfair Inc. (W) 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 BFLY and W?
Across a 3-year window, the weekly returns of BFLY and W correlate at 0.44, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. Stretching to 5 years gives 0.48, with an annualized covariance of 2865.4 %².
Among the 11 assets we track against BFLY, W ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with BFLY ahead by 414.4 points (+455.4% versus +41.0%).
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.
BFLY vs W: side by side
| BFLY (Butterfly Network, Inc.) | W (Wayfair Inc.) | |
|---|---|---|
| 1-year return | +455.4% | +41.0% |
| 5-year return | -27.5% | -64.0% |
| Volatility (ann.) | 98.1% | 67.1% |
| Beta vs S&P 500 | 2.32 | 2.50 |
| Max drawdown (3Y) | -72.4% | -67.7% |
| Market cap | $2.3B | $14.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BFLY | W |
|---|---|---|
| 2022 | -63.2% | -82.7% |
| 2023 | -56.1% | +87.6% |
| 2024 | +188.9% | -28.2% |
| 2025 | +21.8% | +126.6% |
| 2026 | +129.5% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BFLY and W good diversifiers for each other?
Reasonably. At 0.44, BFLY and W keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BFLY and W?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.46 over the last year and 0.48 over 5 years.
Is W a good diversifier for BFLY?
Reasonably. At 0.44, BFLY and W keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: BFLY correlations · W correlations
