EMN vs WLK: Correlation
How closely do Eastman Chemical Company (EMN) and Westlake Corporation (WLK) trade together? Their weekly returns over three years give a correlation of 0.63, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMN and WLK?
On 3 years of weekly data the EMN/WLK correlation comes out at 0.63, strong. The relationship has been stable: the 1-year correlation (0.67) sits close to the 3-year figure. The 5-year figure is 0.64, and annualized covariance runs at 750.5 %².
Among the 22 assets we track against EMN, WLK ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months EMN outperformed by 22.6 percentage points (+10.8% for EMN against -11.8% for WLK).
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.
EMN vs WLK: side by side
| EMN (Eastman Chemical Company) | WLK (Westlake Corporation) | |
|---|---|---|
| 1-year return | +10.8% | -11.8% |
| 5-year return | -22.9% | -8.0% |
| Volatility (ann.) | 30.5% | 39.0% |
| Beta vs S&P 500 | 0.95 | 0.82 |
| Max drawdown (3Y) | -48.4% | -64.2% |
| Market cap | $8.3B | $9.4B |
| P/E (trailing) | 18.9 | – |
| Dividend yield | 4.59% | 2.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMN | WLK |
|---|---|---|
| 2022 | -30.4% | +6.8% |
| 2023 | +14.7% | +38.4% |
| 2024 | +5.1% | -16.9% |
| 2025 | -26.9% | -33.8% |
| 2026 | +16.5% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMN and WLK good diversifiers for each other?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between EMN and WLK?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.67 over the last year and 0.64 over 5 years.
Is WLK a good diversifier for EMN?
To a limited degree. At 0.63 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.63 mean?
On the −1 to +1 scale, 0.63 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/emn-vs-wlk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/emn-vs-wlk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EMN correlations · WLK correlations
