CR vs WAB: Correlation
How closely do Crane Company (CR) and Wabtec (WAB) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CR and WAB?
Over the past 3 years, CR and WAB moved with a correlation of 0.61, which is strong. The past 12 months show a weaker link (0.50) than the 3-year average (0.61). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 480.0 %².
Within CR's tracked universe of 17 assets, WAB comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WAB outperformed by 44.5 percentage points (+8.4% for CR against +52.9% for WAB).
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.
CR vs WAB: side by side
| CR (Crane Company) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | +8.4% | +52.9% |
| 5-year return | n/a | +241.0% |
| Volatility (ann.) | 31.2% | 25.3% |
| Beta vs S&P 500 | 1.13 | 0.99 |
| Max drawdown (3Y) | -28.0% | -23.6% |
| Market cap | $12.1B | $50.2B |
| P/E (trailing) | 36.6 | 40.5 |
| Dividend yield | 0.46% | 0.37% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | CR | WAB |
|---|---|---|
| 2022 | – | +9.1% |
| 2023 | – | +28.0% |
| 2024 | +29.2% | +50.1% |
| 2025 | +22.2% | +13.2% |
| 2026 | +13.6% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CR and WAB good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between CR and WAB?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.50 over the last year and n/a over 5 years.
Is WAB a good diversifier for CR?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
A reading of 0.61 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/cr-vs-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cr-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CR correlations · WAB correlations
