FWDI vs WLDS: Correlation
Forward Industries, Inc. (FWDI) and Wearable Devices Ltd. (WLDS) show a moderate relationship: their 3-year correlation of weekly returns is 0.56.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FWDI and WLDS?
On 3 years of weekly data the FWDI/WLDS correlation comes out at 0.56, moderate. The link has tightened recently: the 1-year correlation (0.81) runs above the 3-year figure (0.56). The 5-year figure is 0.54, and annualized covariance runs at 32802.4 %².
In FWDI's tracked universe of 23 assets, WLDS sits right near the top at #3. The last year tells two different stories: FWDI led by 26.4 percentage points, -50.1% for FWDI against -76.5% for WLDS. One caveat on sizing: WLDS is 3.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FWDI vs WLDS: side by side
| FWDI (Forward Industries, Inc.) | WLDS (Wearable Devices Ltd.) | |
|---|---|---|
| 1-year return | -50.1% | -76.5% |
| 5-year return | -73.8% | n/a |
| Volatility (ann.) | 123.1% | 475.5% |
| Beta vs S&P 500 | -0.00 | 3.22 |
| Max drawdown (3Y) | -90.9% | -99.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FWDI | WLDS |
|---|---|---|
| 2022 | -31.4% | – |
| 2023 | -31.8% | -21.1% |
| 2024 | -32.2% | -68.3% |
| 2025 | +33.5% | -86.9% |
| 2026 | +0.8% | -77.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FWDI and WLDS good diversifiers for each other?
Only partially. A correlation of 0.56 means FWDI and WLDS 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 FWDI and WLDS?
As of 2026-08-27, the correlation of weekly returns between FWDI and WLDS is 0.56 over 3 years, 0.81 over 1 year and 0.54 over 5 years.
Is WLDS a good diversifier for FWDI?
Only partially. A correlation of 0.56 means FWDI and WLDS share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.56 mean?
On the −1 to +1 scale, 0.56 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/fwdi-vs-wlds.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fwdi-vs-wlds/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FWDI correlations · WLDS correlations
