CME vs WNC: Correlation
How closely do CME Group (CME) and Wabash National Corporation (WNC) trade together? Their weekly returns over three years give a correlation of -0.29, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CME and WNC?
Across a 3-year window, the weekly returns of CME and WNC correlate at -0.29, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.33 lands near the 3-year figure. Stretching to 5 years gives -0.17, with an annualized covariance of -286.4 %².
WNC is close to the least connected end of CME's tracked universe, ranking #46 of 47. The trailing year gives WNC the advantage: +8.1% versus +19.0%, a 10.9-point spread. Risk is not evenly split, since WNC carries 2.5 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.
CME vs WNC: side by side
| CME (CME Group) | WNC (Wabash National Corporation) | |
|---|---|---|
| 1-year return | +8.1% | +19.0% |
| 5-year return | +73.9% | -6.2% |
| Volatility (ann.) | 20.0% | 49.9% |
| Beta vs S&P 500 | 0.12 | 0.70 |
| Max drawdown (3Y) | -31.1% | -76.4% |
| Market cap | $101.0B | $0.5B |
| P/E (trailing) | 23.8 | – |
| Dividend yield | 1.82% | 2.56% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CME | WNC |
|---|---|---|
| 2022 | -22.9% | +18.2% |
| 2023 | +31.3% | +14.9% |
| 2024 | +15.4% | -32.2% |
| 2025 | +19.8% | -48.1% |
| 2026 | +5.9% | +56.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CME and WNC good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between CME and WNC?
The CME/WNC correlation stands at -0.29 on a 3-year window (1 year: -0.33, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is WNC a good diversifier for CME?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cme-vs-wnc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cme-vs-wnc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CME correlations · WNC correlations
