FTS vs WM: Correlation
Fortis Inc. (FTS) and Waste Management (WM) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTS and WM?
Over the past 3 years, FTS and WM moved with a correlation of 0.39, which is moderate. The past 12 months show a tighter link (0.52) than the 3-year average (0.39). Over 5 years the correlation is 0.45, and the annualized covariance of weekly returns is 104.9 %².
By 3-year correlation, WM places #8 of the 14 assets tracked against FTS. The trailing year gives FTS the advantage: +12.4% versus -2.0%, a 14.4-point spread.
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.
FTS vs WM: side by side
| FTS (Fortis Inc.) | WM (Waste Management) | |
|---|---|---|
| 1-year return | +12.4% | -2.0% |
| 5-year return | +43.4% | +51.8% |
| Volatility (ann.) | 14.6% | 18.3% |
| Beta vs S&P 500 | 0.04 | 0.07 |
| Max drawdown (3Y) | -11.6% | -18.1% |
| Market cap | $28.0B | $87.0B |
| P/E (trailing) | 22.5 | 30.8 |
| Dividend yield | 4.58% | 1.60% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FTS | WM |
|---|---|---|
| 2022 | -13.9% | -4.5% |
| 2023 | +7.0% | +16.2% |
| 2024 | +5.4% | +14.3% |
| 2025 | +28.5% | +10.5% |
| 2026 | +8.3% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTS and WM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FTS and WM?
As of 2026-08-27, the correlation of weekly returns between FTS and WM is 0.39 over 3 years, 0.52 over 1 year and 0.45 over 5 years.
Is WM a good diversifier for FTS?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 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
$ curl https://www.pairbook.io/api/v1/pairs/fts-vs-wm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fts-vs-wm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTS correlations · WM correlations
