GSM vs WLK: Correlation
Ferroglobe PLC (GSM) and Westlake Corporation (WLK) show a moderate relationship: their 3-year correlation of weekly returns is 0.52.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are GSM and WLK?
On 3 years of weekly data the GSM/WLK correlation comes out at 0.52, moderate. Little has changed lately, as the 1-year reading of 0.54 lands near the 3-year figure. The 5-year figure is 0.49, and annualized covariance runs at 1068.3 %².
Within GSM's tracked universe of 13 assets, WLK comes in at #4 by 3-year correlation. On 12-month performance GSM holds a 8.5-point edge, -3.3% against -11.8%.
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.
GSM vs WLK: side by side
| GSM (Ferroglobe PLC) | WLK (Westlake Corporation) | |
|---|---|---|
| 1-year return | -3.3% | -11.8% |
| 5-year return | -45.4% | -8.0% |
| Volatility (ann.) | 52.6% | 39.0% |
| Beta vs S&P 500 | 1.11 | 0.82 |
| Max drawdown (3Y) | -53.7% | -64.2% |
| Market cap | – | $9.4B |
| P/E (trailing) | – | – |
| Dividend yield | 1.43% | 2.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | GSM | WLK |
|---|---|---|
| 2022 | -38.0% | +6.8% |
| 2023 | +69.1% | +38.4% |
| 2024 | -40.9% | -16.9% |
| 2025 | +23.7% | -33.8% |
| 2026 | -12.0% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are GSM and WLK good diversifiers for each other?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between GSM and WLK?
The GSM/WLK correlation stands at 0.52 on a 3-year window (1 year: 0.54, 5 years: 0.49), computed from weekly returns as of 2026-08-27.
Is WLK a good diversifier for GSM?
To a limited degree. At 0.52 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.52 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/gsm-vs-wlk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/gsm-vs-wlk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: GSM correlations · WLK correlations
