EXP vs WMS: Correlation
Eagle Materials Inc (EXP) and Advanced Drainage Systems, Inc. (WMS) show a strong relationship: their 3-year correlation of weekly returns is 0.64.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXP and WMS?
On 3 years of weekly data the EXP/WMS correlation comes out at 0.64, strong. Recent behaviour matches the longer record: 0.70 over 1 year against 0.64 over 3. The 5-year figure is 0.60, and annualized covariance runs at 830.7 %².
Among the 24 assets we track against EXP, WMS ranks #12 by 3-year correlation. On 12-month performance WMS holds a 11.3-point edge, -15.7% against -4.4%.
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.
EXP vs WMS: side by side
| EXP (Eagle Materials Inc) | WMS (Advanced Drainage Systems, Inc.) | |
|---|---|---|
| 1-year return | -15.7% | -4.4% |
| 5-year return | +29.5% | +22.1% |
| Volatility (ann.) | 34.8% | 37.1% |
| Beta vs S&P 500 | 1.21 | 1.31 |
| Max drawdown (3Y) | -44.7% | -45.8% |
| Market cap | $6.1B | $10.5B |
| P/E (trailing) | 15.6 | 23.6 |
| Dividend yield | 0.50% | 0.52% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXP | WMS |
|---|---|---|
| 2022 | -19.6% | -39.5% |
| 2023 | +53.6% | +72.4% |
| 2024 | +22.1% | -17.5% |
| 2025 | -15.9% | +26.0% |
| 2026 | -4.1% | -3.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXP and WMS good diversifiers for each other?
Only partially. A correlation of 0.64 means EXP and WMS 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 EXP and WMS?
As of 2026-08-27, the correlation of weekly returns between EXP and WMS is 0.64 over 3 years, 0.70 over 1 year and 0.60 over 5 years.
Is WMS a good diversifier for EXP?
Only partially. A correlation of 0.64 means EXP and WMS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.64 mean?
On the −1 to +1 scale, 0.64 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/exp-vs-wms.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/exp-vs-wms/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EXP correlations · WMS correlations
