IRDM vs WLDS: Correlation
How closely do Iridium Communications Inc (IRDM) and Wearable Devices Ltd. (WLDS) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRDM and WLDS?
Across a 3-year window, the weekly returns of IRDM and WLDS correlate at -0.31, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.46) than the 3-year average (-0.31). Stretching to 5 years gives -0.27, with an annualized covariance of -7342.7 %².
Among the 12 assets we track against IRDM, WLDS sits near the bottom by co-movement, at rank #11. Correlation aside, the last 12 months split them widely, with IRDM ahead by 171.9 points (+95.4% versus -76.5%). Note the risk asymmetry: WLDS runs 9.6 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.
IRDM vs WLDS: side by side
| IRDM (Iridium Communications Inc) | WLDS (Wearable Devices Ltd.) | |
|---|---|---|
| 1-year return | +95.4% | -76.5% |
| 5-year return | +8.5% | n/a |
| Volatility (ann.) | 49.3% | 475.5% |
| Beta vs S&P 500 | 0.85 | 3.22 |
| Max drawdown (3Y) | -67.5% | -99.8% |
| Market cap | $5.0B | – |
| P/E (trailing) | 54.1 | – |
| Dividend yield | 1.27% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRDM | WLDS |
|---|---|---|
| 2022 | +24.5% | – |
| 2023 | -19.1% | -21.1% |
| 2024 | -28.1% | -68.3% |
| 2025 | -38.5% | -86.9% |
| 2026 | +176.6% | -77.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRDM and WLDS good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between IRDM and WLDS?
As of 2026-08-27, the correlation of weekly returns between IRDM and WLDS is -0.31 over 3 years, -0.46 over 1 year and -0.27 over 5 years.
Is WLDS a good diversifier for IRDM?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 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.
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Related comparisons
Hubs: IRDM correlations · WLDS correlations
