ICCC vs WALD: Correlation
ImmuCell Corporation (ICCC) and Waldencast plc - Class A (WALD) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ICCC and WALD?
Over the past 3 years, ICCC and WALD moved with a correlation of -0.24, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.43) than the 3-year average (-0.24). Over 5 years the correlation is -0.19, and the annualized covariance of weekly returns is -1047.1 %².
Out of 13 assets tracked against ICCC, WALD lands near the bottom at #11. The last year tells two different stories: ICCC led by 80.3 percentage points, +64.3% for ICCC against -16.0% for WALD. Note the risk asymmetry: WALD runs 2.1 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.
ICCC vs WALD: side by side
| ICCC (ImmuCell Corporation) | WALD (Waldencast plc - Class A) | |
|---|---|---|
| 1-year return | +64.3% | -16.0% |
| 5-year return | +10.8% | -86.1% |
| Volatility (ann.) | 45.2% | 95.0% |
| Beta vs S&P 500 | 0.01 | 0.48 |
| Max drawdown (3Y) | -40.0% | -93.4% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | 143.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ICCC | WALD |
|---|---|---|
| 2022 | -23.8% | -8.8% |
| 2023 | -16.6% | +20.6% |
| 2024 | +1.2% | -63.3% |
| 2025 | +19.4% | -53.2% |
| 2026 | +62.9% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ICCC and WALD good diversifiers for each other?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ICCC and WALD?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.43 over the last year and -0.19 over 5 years.
Is WALD a good diversifier for ICCC?
Yes: at -0.24, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/iccc-vs-wald.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/iccc-vs-wald/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ICCC correlations · WALD correlations
