GF vs WLDN: Correlation
New Germany Fund, Inc. (The) (GF) and Willdan Group, Inc. (WLDN) show a moderate relationship: their 3-year correlation of weekly returns is 0.41.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GF and WLDN?
Across a 3-year window, the weekly returns of GF and WLDN correlate at 0.41, moderate. The past 12 months show a weaker link (0.29) than the 3-year average (0.41). Stretching to 5 years gives 0.28, with an annualized covariance of 452.3 %².
Among the 14 assets we track against GF, WLDN ranks #8 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GF ahead by 27.2 points (+2.8% versus -24.4%). Note the risk asymmetry: WLDN runs 2.5 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.
GF vs WLDN: side by side
| GF (New Germany Fund, Inc. (The)) | WLDN (Willdan Group, Inc.) | |
|---|---|---|
| 1-year return | +2.8% | -24.4% |
| 5-year return | -16.5% | +134.3% |
| Volatility (ann.) | 20.9% | 52.6% |
| Beta vs S&P 500 | 0.76 | 0.98 |
| Max drawdown (3Y) | -18.1% | -50.4% |
| Market cap | – | $1.3B |
| P/E (trailing) | 3.4 | 20.2 |
| Dividend yield | 1.29% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GF | WLDN |
|---|---|---|
| 2022 | -42.2% | -49.3% |
| 2023 | +11.7% | +20.4% |
| 2024 | -10.0% | +77.2% |
| 2025 | +48.3% | +172.1% |
| 2026 | +3.9% | -15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GF and WLDN good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GF and WLDN?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.29 over the last year and 0.28 over 5 years.
Is WLDN a good diversifier for GF?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 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/gf-vs-wldn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gf-vs-wldn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: GF correlations · WLDN correlations
