BJ vs WATT: Correlation
BJ's Wholesale Club Holdings, Inc. (BJ) and Energous Corporation (WATT) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BJ and WATT?
Across a 3-year window, the weekly returns of BJ and WATT correlate at -0.17, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.04) runs above the 3-year figure (-0.17). Stretching to 5 years gives -0.06, with an annualized covariance of -513.4 %².
Within BJ's tracked universe of 43 assets, WATT comes in at #14 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WATT outperformed by 53.5 percentage points (-6.9% for BJ against +46.6% for WATT). Note the risk asymmetry: WATT runs 4.4 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.
BJ vs WATT: side by side
| BJ (BJ's Wholesale Club Holdings, Inc.) | WATT (Energous Corporation) | |
|---|---|---|
| 1-year return | -6.9% | +46.6% |
| 5-year return | +59.5% | -99.2% |
| Volatility (ann.) | 26.4% | 117.2% |
| Beta vs S&P 500 | -0.14 | 1.35 |
| Max drawdown (3Y) | -30.1% | -95.3% |
| Market cap | $11.4B | $0.1B |
| P/E (trailing) | 20.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BJ | WATT |
|---|---|---|
| 2022 | -1.2% | -33.1% |
| 2023 | +0.8% | -89.1% |
| 2024 | +34.0% | -44.8% |
| 2025 | +0.8% | -86.8% |
| 2026 | +0.5% | +196.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BJ and WATT good diversifiers for each other?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BJ and WATT?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with -0.04 over the last year and -0.06 over 5 years.
Is WATT a good diversifier for BJ?
Yes: at -0.17, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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/bj-vs-watt.json
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Related comparisons
Hubs: BJ correlations · WATT correlations
