GRF vs WVE: Correlation
Eagle Capital Growth Fund, Inc. (GRF) and Wave Life Sciences, Inc. (WVE) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GRF and WVE?
Across a 3-year window, the weekly returns of GRF and WVE correlate at 0.36, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.61 versus 0.36 over 3 years. Stretching to 5 years gives 0.21, with an annualized covariance of 801.9 %².
Among the 10 assets we track against GRF, WVE ranks #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with GRF ahead by 58.5 points (+9.7% versus -48.8%). Note the risk asymmetry: WVE runs 5.8 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.
GRF vs WVE: side by side
| GRF (Eagle Capital Growth Fund, Inc.) | WVE (Wave Life Sciences, Inc.) | |
|---|---|---|
| 1-year return | +9.7% | -48.8% |
| 5-year return | +56.2% | -15.0% |
| Volatility (ann.) | 19.6% | 113.5% |
| Beta vs S&P 500 | 0.31 | 1.84 |
| Max drawdown (3Y) | -17.8% | -76.3% |
| Market cap | – | $1.0B |
| P/E (trailing) | 10.5 | – |
| Dividend yield | 8.10% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GRF | WVE |
|---|---|---|
| 2022 | -6.5% | +122.9% |
| 2023 | +14.9% | -27.9% |
| 2024 | +10.3% | +145.0% |
| 2025 | +19.1% | +37.4% |
| 2026 | -1.4% | -69.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GRF and WVE good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between GRF and WVE?
The GRF/WVE correlation stands at 0.36 on a 3-year window (1 year: 0.61, 5 years: 0.21), computed from weekly returns as of 2026-08-27.
Is WVE a good diversifier for GRF?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
A reading of 0.36 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/grf-vs-wve.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/grf-vs-wve/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GRF correlations · WVE correlations
