FLNC vs WALD: Correlation
Measured on weekly returns over the past three years, Fluence Energy, Inc. (FLNC) and Waldencast plc - Class A (WALD) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNC and WALD?
Over the past 3 years, FLNC and WALD moved with a correlation of 0.40, which is moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. Over 5 years the correlation is 0.28, and the annualized covariance of weekly returns is 4164.5 %².
Within FLNC's tracked universe of 19 assets, WALD comes in at #7 by 3-year correlation. The last year tells two different stories: FLNC led by 73.0 percentage points, +57.0% for FLNC against -16.0% for WALD.
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.
FLNC vs WALD: side by side
| FLNC (Fluence Energy, Inc.) | WALD (Waldencast plc - Class A) | |
|---|---|---|
| 1-year return | +57.0% | -16.0% |
| 5-year return | -67.3% | -86.1% |
| Volatility (ann.) | 109.2% | 95.0% |
| Beta vs S&P 500 | 2.11 | 0.48 |
| Max drawdown (3Y) | -86.9% | -93.4% |
| Market cap | $2.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLNC | WALD |
|---|---|---|
| 2022 | -51.8% | -8.8% |
| 2023 | +39.1% | +20.6% |
| 2024 | -33.4% | -63.3% |
| 2025 | +24.6% | -53.2% |
| 2026 | -42.2% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNC and WALD good diversifiers for each other?
Reasonably. At 0.40, FLNC and WALD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FLNC and WALD?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.48 over the last year and 0.28 over 5 years.
Is WALD a good diversifier for FLNC?
Reasonably. At 0.40, FLNC and WALD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/flnc-vs-wald.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flnc-vs-wald/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FLNC correlations · WALD correlations
