CODX vs WFCF: Correlation
How closely do Co-Diagnostics, Inc. (CODX) and Where Food Comes From, Inc. (WFCF) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CODX and WFCF?
On 3 years of weekly data the CODX/WFCF correlation comes out at 0.48, moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.48 over 3. The 5-year figure is 0.39, and annualized covariance runs at 5614.3 %².
By 3-year correlation, WFCF places #9 of the 24 assets tracked against CODX. The last year tells two different stories: WFCF led by 97.5 percentage points, -87.1% for CODX against +10.4% for WFCF. Risk is not evenly split, since CODX carries 3.6 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.
CODX vs WFCF: side by side
| CODX (Co-Diagnostics, Inc.) | WFCF (Where Food Comes From, Inc.) | |
|---|---|---|
| 1-year return | -87.1% | +10.4% |
| 5-year return | -99.6% | +0.4% |
| Volatility (ann.) | 203.9% | 57.1% |
| Beta vs S&P 500 | 2.30 | 0.27 |
| Max drawdown (3Y) | -97.9% | -49.1% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 45.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CODX | WFCF |
|---|---|---|
| 2022 | -71.8% | -3.7% |
| 2023 | -47.2% | -3.0% |
| 2024 | -43.6% | -2.3% |
| 2025 | -77.5% | -13.2% |
| 2026 | -75.1% | +15.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CODX and WFCF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CODX and WFCF?
As of 2026-08-27, the correlation of weekly returns between CODX and WFCF is 0.48 over 3 years, 0.57 over 1 year and 0.39 over 5 years.
Is WFCF a good diversifier for CODX?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
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/codx-vs-wfcf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/codx-vs-wfcf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CODX correlations · WFCF correlations
