EBS vs WGS: Correlation
Measured on weekly returns over the past three years, Emergent BioSolutions Inc. (EBS) and GeneDx Holdings Corp. (WGS) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EBS and WGS?
On 3 years of weekly data the EBS/WGS correlation comes out at 0.37, moderate. The past 12 months show a weaker link (0.04) than the 3-year average (0.37). The 5-year figure is 0.34, and annualized covariance runs at 5079.3 %².
By 3-year correlation, WGS places #8 of the 15 assets tracked against EBS. Neither side won the trailing year by much: -30.8% against -30.9%.
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.
EBS vs WGS: side by side
| EBS (Emergent BioSolutions Inc.) | WGS (GeneDx Holdings Corp.) | |
|---|---|---|
| 1-year return | -30.8% | -30.9% |
| 5-year return | -90.7% | -69.2% |
| Volatility (ann.) | 122.0% | 113.8% |
| Beta vs S&P 500 | 2.69 | 1.13 |
| Max drawdown (3Y) | -71.2% | -79.4% |
| Market cap | $0.3B | $2.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EBS | WGS |
|---|---|---|
| 2022 | -72.8% | -94.1% |
| 2023 | -79.7% | -68.4% |
| 2024 | +298.3% | +2694.9% |
| 2025 | +29.3% | +69.2% |
| 2026 | -51.9% | -31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EBS and WGS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EBS and WGS?
The EBS/WGS correlation stands at 0.37 on a 3-year window (1 year: 0.04, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is WGS a good diversifier for EBS?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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/ebs-vs-wgs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ebs-vs-wgs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EBS correlations · WGS correlations
