EQS vs WAB: Correlation
Equus Total Return, Inc. (EQS) and Wabtec (WAB) show a negative relationship: their 3-year correlation of weekly returns is -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQS and WAB?
On 3 years of weekly data the EQS/WAB correlation comes out at -0.15, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.15). The 5-year figure is -0.06, and annualized covariance runs at -174.8 %².
By 3-year correlation, WAB places #10 of the 17 assets tracked against EQS. Their recent paths diverged sharply: over the last 12 months WAB outperformed by 102.4 percentage points (-49.5% for EQS against +52.9% for WAB). Note the risk asymmetry: EQS runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
EQS vs WAB: side by side
| EQS (Equus Total Return, Inc.) | WAB (Wabtec) | |
|---|---|---|
| 1-year return | -49.5% | +52.9% |
| 5-year return | -58.6% | +241.0% |
| Volatility (ann.) | 47.4% | 25.3% |
| Beta vs S&P 500 | -0.16 | 0.99 |
| Max drawdown (3Y) | -58.6% | -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 | EQS | WAB |
|---|---|---|
| 2022 | -39.9% | +9.1% |
| 2023 | +1.4% | +28.0% |
| 2024 | -24.1% | +50.1% |
| 2025 | +28.2% | +13.2% |
| 2026 | -27.0% | +39.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQS and WAB good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQS and WAB?
The EQS/WAB correlation stands at -0.15 on a 3-year window (1 year: -0.34, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is WAB a good diversifier for EQS?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 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/eqs-vs-wab.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqs-vs-wab/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQS correlations · WAB correlations
