BSX vs WAY: Correlation
Boston Scientific (BSX) and Waystar Holding Corp. (WAY) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BSX and WAY?
Over the past 3 years, BSX and WAY moved with a correlation of 0.44, which is moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 571.0 %².
Among the 33 assets we track against BSX, WAY ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WAY ahead by 23.8 points (-55.9% versus -32.1%). Risk is not evenly split, since WAY carries 1.6 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.
BSX vs WAY: side by side
| BSX (Boston Scientific) | WAY (Waystar Holding Corp.) | |
|---|---|---|
| 1-year return | -55.9% | -32.1% |
| 5-year return | +4.1% | n/a |
| Volatility (ann.) | 27.6% | 43.8% |
| Beta vs S&P 500 | 0.72 | 1.07 |
| Max drawdown (3Y) | -60.6% | -61.8% |
| Market cap | $67.6B | $4.8B |
| P/E (trailing) | 19.5 | 34.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BSX | WAY |
|---|---|---|
| 2022 | +8.9% | – |
| 2023 | +24.9% | – |
| 2024 | +54.5% | – |
| 2025 | +6.8% | -10.8% |
| 2026 | -51.1% | -22.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BSX and WAY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BSX and WAY?
The BSX/WAY correlation stands at 0.44 on a 3-year window (1 year: 0.41, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WAY a good diversifier for BSX?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
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Related comparisons
Hubs: BSX correlations · WAY correlations
