ESI vs WDC: Correlation
How closely do Element Solutions Inc. (ESI) and Western Digital (WDC) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESI and WDC?
On 3 years of weekly data the ESI/WDC correlation comes out at 0.59, moderate. Recent behaviour matches the longer record: 0.54 over 1 year against 0.59 over 3. The 5-year figure is 0.59, and annualized covariance runs at 1113.1 %².
By 3-year correlation, WDC places #8 of the 18 assets tracked against ESI. The last year tells two different stories: WDC led by 431.0 percentage points, +43.3% for ESI against +474.3% for WDC. Risk is not evenly split, since WDC carries 1.8 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.
ESI vs WDC: side by side
| ESI (Element Solutions Inc.) | WDC (Western Digital) | |
|---|---|---|
| 1-year return | +43.3% | +474.3% |
| 5-year return | +67.5% | +889.2% |
| Volatility (ann.) | 32.8% | 58.0% |
| Beta vs S&P 500 | 1.26 | 2.15 |
| Max drawdown (3Y) | -40.0% | -49.6% |
| Market cap | $8.9B | $166.6B |
| P/E (trailing) | 49.4 | 17.4 |
| Dividend yield | 0.89% | 0.11% |
| Sector / category | US Listed | Information Technology |
Year-by-year returns
| Year | ESI | WDC |
|---|---|---|
| 2022 | -23.9% | -51.6% |
| 2023 | +29.3% | +66.0% |
| 2024 | +11.3% | +13.9% |
| 2025 | -0.4% | +283.7% |
| 2026 | +46.7% | +168.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESI and WDC good diversifiers for each other?
Only partially. A correlation of 0.59 means ESI and WDC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ESI and WDC?
The ESI/WDC correlation stands at 0.59 on a 3-year window (1 year: 0.54, 5 years: 0.59), computed from weekly returns as of 2026-08-27.
Is WDC a good diversifier for ESI?
Only partially. A correlation of 0.59 means ESI and WDC share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.59 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
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Related comparisons
Hubs: ESI correlations · WDC correlations
