CMCSA vs WBD: Correlation
Measured on weekly returns over the past three years, Comcast (CMCSA) and Warner Bros. Discovery (WBD) carry a correlation of 0.26, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CMCSA and WBD?
Over the past 3 years, CMCSA and WBD moved with a correlation of 0.26, which is weak. The past 12 months show a weaker link (-0.03) than the 3-year average (0.26). Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 337.6 %².
Among the 39 assets we track against CMCSA, WBD ranks #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WBD ahead by 150.3 points (-12.6% versus +137.7%). Do not treat this figure as fixed: across three years the rolling one-year correlation ranged all the way from -0.07 to 0.67. Risk is not evenly split, since WBD carries 2.3 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.
CMCSA vs WBD: side by side
| CMCSA (Comcast) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | -12.6% | +137.7% |
| 5-year return | -44.5% | +3.7% |
| Volatility (ann.) | 23.8% | 54.7% |
| Beta vs S&P 500 | 0.48 | 1.19 |
| Max drawdown (3Y) | -44.9% | -48.9% |
| Market cap | $93.7B | $72.4B |
| P/E (trailing) | 8.7 | – |
| Dividend yield | 4.85% | 0.00% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | CMCSA | WBD |
|---|---|---|
| 2022 | -28.7% | -59.7% |
| 2023 | +29.1% | +20.0% |
| 2024 | -11.8% | -7.1% |
| 2025 | -17.3% | +172.7% |
| 2026 | -2.2% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CMCSA and WBD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CMCSA and WBD?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with -0.03 over the last year and 0.35 over 5 years.
Is WBD a good diversifier for CMCSA?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 mean?
A reading of 0.26 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/cmcsa-vs-wbd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cmcsa-vs-wbd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CMCSA correlations · WBD correlations
