CHE vs WBX: Correlation
Chemed Corp (CHE) and Wallbox N.V. Class A (WBX) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHE and WBX?
Across a 3-year window, the weekly returns of CHE and WBX correlate at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.15) than the 3-year average (-0.34). Stretching to 5 years gives -0.27, with an annualized covariance of -8601.5 %².
Out of 16 assets tracked against CHE, WBX lands near the bottom at #15. Correlation aside, the last 12 months split them widely, with CHE ahead by 46.8 points (+14.9% versus -31.9%). Risk is not evenly split, since WBX carries 37.5 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.
CHE vs WBX: side by side
| CHE (Chemed Corp) | WBX (Wallbox N.V. Class A) | |
|---|---|---|
| 1-year return | +14.9% | -31.9% |
| 5-year return | +12.2% | -70.7% |
| Volatility (ann.) | 26.0% | 975.4% |
| Beta vs S&P 500 | 0.21 | 4.88 |
| Max drawdown (3Y) | -42.9% | -91.3% |
| Market cap | $6.8B | $0.1B |
| P/E (trailing) | 27.6 | – |
| Dividend yield | 0.44% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CHE | WBX |
|---|---|---|
| 2022 | -3.2% | -78.1% |
| 2023 | +14.9% | -51.1% |
| 2024 | -9.1% | -71.4% |
| 2025 | -18.9% | +367.1% |
| 2026 | +22.1% | +23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHE and WBX good diversifiers for each other?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between CHE and WBX?
The CHE/WBX correlation stands at -0.34 on a 3-year window (1 year: 0.15, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is WBX a good diversifier for CHE?
Yes: at -0.34, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.34 mean?
A reading of -0.34 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/che-vs-wbx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/che-vs-wbx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CHE correlations · WBX correlations
