EDSA vs WAB: Correlation
Measured on weekly returns over the past three years, Edesa Biotech, Inc. (EDSA) and Wabtec (WAB) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDSA and WAB?
On 3 years of weekly data the EDSA/WAB correlation comes out at -0.16, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.31) than the 3-year average (-0.16). The 5-year figure is -0.03, and annualized covariance runs at -792.9 %².
Among the 30 assets we track against EDSA, WAB ranks #15 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EDSA ahead by 38.8 points (+91.7% versus +52.9%). Risk is not evenly split, since EDSA carries 7.5 times the volatility of the other side.
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.
EDSA vs WAB: side by side
| EDSA (Edesa Biotech, Inc.) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | +91.7% | +52.9% |
| 5-year return | -87.4% | +241.0% |
| Volatility (ann.) | 190.4% | 25.3% |
| Beta vs S&P 500 | -0.03 | 0.99 |
| Max drawdown (3Y) | -87.3% | -23.6% |
| Market cap | – | $50.2B |
| P/E (trailing) | – | 40.5 |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | EDSA | WAB |
|---|---|---|
| 2022 | -61.6% | +9.1% |
| 2023 | -69.8% | +28.0% |
| 2024 | -63.2% | +50.1% |
| 2025 | -15.5% | +13.2% |
| 2026 | +223.9% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and WAB good diversifiers for each other?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
FAQ
What is the correlation between EDSA and WAB?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with -0.31 over the last year and -0.03 over 5 years.
Is WAB a good diversifier for EDSA?
By historical standards, yes. A correlation of -0.16 means the two rarely move for the same reasons.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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/edsa-vs-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/edsa-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EDSA correlations · WAB correlations
