CAPS vs WALD: Correlation
Measured on weekly returns over the past three years, Capstone Holding Corp. (CAPS) and Waldencast plc - Class A (WALD) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CAPS and WALD?
Across a 3-year window, the weekly returns of CAPS and WALD correlate at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.24 over 1 year against -0.24 over 3. Stretching to 5 years gives -0.18, with an annualized covariance of -1893.6 %².
WALD is close to the least connected end of CAPS's tracked universe, ranking #9 of 10. The last year tells two different stories: WALD led by 69.0 percentage points, -85.0% for CAPS against -16.0% for WALD.
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.
CAPS vs WALD: side by side
| CAPS (Capstone Holding Corp.) | WALD (Waldencast plc - Class A) | |
|---|---|---|
| 1-year return | -85.0% | -16.0% |
| 5-year return | -99.2% | -86.1% |
| Volatility (ann.) | 81.8% | 95.0% |
| Beta vs S&P 500 | 0.82 | 0.48 |
| Max drawdown (3Y) | -97.5% | -93.4% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CAPS | WALD |
|---|---|---|
| 2022 | +114.5% | -8.8% |
| 2023 | -85.9% | +20.6% |
| 2024 | -56.9% | -63.3% |
| 2025 | -67.4% | -53.2% |
| 2026 | -74.7% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CAPS and WALD good diversifiers for each other?
Yes. With a correlation of -0.24, CAPS and WALD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CAPS and WALD?
The CAPS/WALD correlation stands at -0.24 on a 3-year window (1 year: -0.24, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is WALD a good diversifier for CAPS?
Yes. With a correlation of -0.24, CAPS and WALD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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
$ curl https://www.pairbook.io/api/v1/pairs/caps-vs-wald.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/caps-vs-wald/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CAPS correlations · WALD correlations
