CNM vs WLDS: Correlation
Core & Main, Inc. (CNM) and Wearable Devices Ltd. (WLDS) show a negative relationship: their 3-year correlation of weekly returns is -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNM and WLDS?
On 3 years of weekly data the CNM/WLDS correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.62 versus -0.35 over 3 years. The 5-year figure is -0.30, and annualized covariance runs at -6665.2 %².
Among the 17 assets we track against CNM, WLDS sits near the bottom by co-movement, at rank #15. The last year tells two different stories: CNM led by 43.0 percentage points, -33.5% for CNM against -76.5% for WLDS. Risk is not evenly split, since WLDS carries 12.0 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.
CNM vs WLDS: side by side
| CNM (Core & Main, Inc.) | WLDS (Wearable Devices Ltd.) | |
|---|---|---|
| 1-year return | -33.5% | -76.5% |
| 5-year return | +63.1% | n/a |
| Volatility (ann.) | 39.7% | 475.5% |
| Beta vs S&P 500 | 1.19 | 3.22 |
| Max drawdown (3Y) | -38.7% | -99.8% |
| Market cap | $8.5B | – |
| P/E (trailing) | 18.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNM | WLDS |
|---|---|---|
| 2022 | -36.4% | – |
| 2023 | +109.3% | -21.1% |
| 2024 | +26.0% | -68.3% |
| 2025 | +2.1% | -86.9% |
| 2026 | -15.8% | -77.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNM and WLDS good diversifiers for each other?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
FAQ
What is the correlation between CNM and WLDS?
The CNM/WLDS correlation stands at -0.35 on a 3-year window (1 year: -0.62, 5 years: -0.30), computed from weekly returns as of 2026-08-27.
Is WLDS a good diversifier for CNM?
By historical standards, yes. A correlation of -0.35 means the two rarely move for the same reasons.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cnm-vs-wlds.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cnm-vs-wlds/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNM correlations · WLDS correlations
