FDBC vs WBD: Correlation
Fidelity D & D Bancorp, Inc. (FDBC) and Warner Bros. Discovery (WBD) show a moderate relationship: their 3-year correlation of weekly returns is 0.43.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDBC and WBD?
On 3 years of weekly data the FDBC/WBD correlation comes out at 0.43, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.43 over 3. The 5-year figure is 0.37, and annualized covariance runs at 819.3 %².
Among the 14 assets we track against FDBC, WBD ranks #7 by 3-year correlation. The last year tells two different stories: WBD led by 115.4 percentage points, +22.3% for FDBC against +137.7% for WBD. Note the risk asymmetry: WBD runs 1.6 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.
FDBC vs WBD: side by side
| FDBC (Fidelity D & D Bancorp, Inc.) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | +22.3% | +137.7% |
| 5-year return | +16.8% | +3.7% |
| Volatility (ann.) | 35.2% | 54.7% |
| Beta vs S&P 500 | 0.69 | 1.19 |
| Max drawdown (3Y) | -35.1% | -48.9% |
| Market cap | $0.3B | $72.4B |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 3.17% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | FDBC | WBD |
|---|---|---|
| 2022 | -17.5% | -59.7% |
| 2023 | +26.9% | +20.0% |
| 2024 | -13.2% | -7.1% |
| 2025 | -7.4% | +172.7% |
| 2026 | +25.7% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDBC and WBD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FDBC and WBD?
The FDBC/WBD correlation stands at 0.43 on a 3-year window (1 year: 0.40, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is WBD a good diversifier for FDBC?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
A reading of 0.43 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FDBC correlations · WBD correlations
