ECHO vs WBD: Correlation
EchoStar (ECHO) and Warner Bros. Discovery (WBD) show a weak relationship: their 3-year correlation of weekly returns is 0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECHO and WBD?
Over the past 3 years, ECHO and WBD moved with a correlation of 0.21, which is weak. The link has tightened recently: the 1-year correlation (0.40) runs above the 3-year figure (0.21). Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 1046.7 %².
Within ECHO's tracked universe of 35 assets, WBD comes in at #19 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WBD outperformed by 90.5 percentage points (+47.2% for ECHO against +137.7% for WBD). Across three years, the rolling one-year figure varied moderately, from 0.07 to 0.53. One caveat on sizing: ECHO is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ECHO vs WBD: side by side
| ECHO (EchoStar) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | +47.2% | +137.7% |
| 5-year return | +227.3% | +3.7% |
| Volatility (ann.) | 91.1% | 54.7% |
| Beta vs S&P 500 | 1.17 | 1.19 |
| Max drawdown (3Y) | -50.1% | -48.9% |
| Market cap | $25.1B | $72.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | ECHO | WBD |
|---|---|---|
| 2022 | -36.7% | -59.7% |
| 2023 | -0.7% | +20.0% |
| 2024 | +38.2% | -7.1% |
| 2025 | +374.7% | +172.7% |
| 2026 | -20.5% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECHO and WBD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ECHO and WBD?
The ECHO/WBD correlation stands at 0.21 on a 3-year window (1 year: 0.40, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is WBD a good diversifier for ECHO?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 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
$ curl https://www.pairbook.io/api/v1/pairs/echo-vs-wbd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/echo-vs-wbd/)
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Related comparisons
Hubs: ECHO correlations · WBD correlations
