CNC vs WBX: Correlation
Measured on weekly returns over the past three years, Centene Corporation (CNC) and Wallbox N.V. Class A (WBX) carry a correlation of -0.48, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNC and WBX?
Across a 3-year window, the weekly returns of CNC and WBX correlate at -0.48, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.26 versus -0.48 over 3 years. Stretching to 5 years gives -0.42, with an annualized covariance of -21292.3 %².
Out of 30 assets tracked against CNC, WBX lands near the bottom at #30. The last year tells two different stories: CNC led by 158.4 percentage points, +126.5% for CNC against -31.9% for WBX. Note the risk asymmetry: WBX runs 21.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
CNC vs WBX: side by side
| CNC (Centene Corporation) | WBX (Wallbox N.V. Class A) | |
|---|---|---|
| 1-year return | +126.5% | -31.9% |
| 5-year return | +3.3% | -70.7% |
| Volatility (ann.) | 45.4% | 975.4% |
| Beta vs S&P 500 | 0.36 | 4.88 |
| Max drawdown (3Y) | -68.6% | -91.3% |
| Market cap | $32.3B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | CNC | WBX |
|---|---|---|
| 2022 | -0.5% | -78.1% |
| 2023 | -9.5% | -51.1% |
| 2024 | -18.4% | -71.4% |
| 2025 | -32.1% | +367.1% |
| 2026 | +58.8% | +23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNC and WBX good diversifiers for each other?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
FAQ
What is the correlation between CNC and WBX?
As of 2026-08-27, the correlation of weekly returns between CNC and WBX is -0.48 over 3 years, 0.26 over 1 year and -0.42 over 5 years.
Is WBX a good diversifier for CNC?
By historical standards, yes. A correlation of -0.48 means the two rarely move for the same reasons.
What does a correlation of -0.48 mean?
A reading of -0.48 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/cnc-vs-wbx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/cnc-vs-wbx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNC correlations · WBX correlations
