DLR vs WAB: Correlation
Measured on weekly returns over the past three years, Digital Realty (DLR) and Wabtec (WAB) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DLR and WAB?
Across a 3-year window, the weekly returns of DLR and WAB correlate at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.51) sits close to the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 329.7 %².
Within DLR's tracked universe of 30 assets, WAB comes in at #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WAB outperformed by 36.5 percentage points (+16.4% for DLR against +52.9% for WAB). On a rolling one-year basis the correlation drifted between 0.21 and 0.58, a moderate band.
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.
DLR vs WAB: side by side
| DLR (Digital Realty) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | +16.4% | +52.9% |
| 5-year return | +40.3% | +241.0% |
| Volatility (ann.) | 27.1% | 25.3% |
| Beta vs S&P 500 | 0.73 | 0.99 |
| Max drawdown (3Y) | -29.4% | -23.6% |
| Market cap | $72.5B | $50.2B |
| P/E (trailing) | 94.2 | 40.5 |
| Dividend yield | 2.52% | 0.37% |
| Sector / category | Real Estate | Industrials |
Year-by-year returns
| Year | DLR | WAB |
|---|---|---|
| 2022 | -41.0% | +9.1% |
| 2023 | +39.9% | +28.0% |
| 2024 | +35.9% | +50.1% |
| 2025 | -10.1% | +13.2% |
| 2026 | +25.8% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DLR and WAB 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 DLR and WAB?
The DLR/WAB correlation stands at 0.48 on a 3-year window (1 year: 0.51, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is WAB a good diversifier for DLR?
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?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dlr-vs-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dlr-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DLR correlations · WAB correlations
