CWCO vs WINA: Correlation
How closely do Consolidated Water Co. Ltd. (CWCO) and Winmark Corporation (WINA) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CWCO and WINA?
Over the past 3 years, CWCO and WINA moved with a correlation of 0.44, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 474.7 %².
By 3-year correlation, WINA places #6 of the 12 assets tracked against CWCO. Correlation aside, the last 12 months split them widely, with CWCO ahead by 16.0 points (-8.3% versus -24.3%).
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.
CWCO vs WINA: side by side
| CWCO (Consolidated Water Co. Ltd.) | WINA (Winmark Corporation) | |
|---|---|---|
| 1-year return | -8.3% | -24.3% |
| 5-year return | +171.8% | +89.5% |
| Volatility (ann.) | 30.8% | 35.4% |
| Beta vs S&P 500 | 0.65 | 0.47 |
| Max drawdown (3Y) | -38.2% | -34.0% |
| Market cap | $0.5B | $1.2B |
| P/E (trailing) | 29.5 | 30.4 |
| Dividend yield | 1.86% | 1.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CWCO | WINA |
|---|---|---|
| 2022 | +42.6% | -2.8% |
| 2023 | +144.2% | +82.6% |
| 2024 | -26.5% | -3.3% |
| 2025 | +38.7% | +6.4% |
| 2026 | -13.6% | -16.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CWCO and WINA good diversifiers for each other?
Reasonably. At 0.44, CWCO and WINA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CWCO and WINA?
As of 2026-08-27, the correlation of weekly returns between CWCO and WINA is 0.44 over 3 years, 0.52 over 1 year and 0.26 over 5 years.
Is WINA a good diversifier for CWCO?
Reasonably. At 0.44, CWCO and WINA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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
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Related comparisons
Hubs: CWCO correlations · WINA correlations
