LIEN vs WGS: Correlation
How closely do Chicago Atlantic BDC, Inc. (LIEN) and GeneDx Holdings Corp. (WGS) trade together? Their weekly returns over three years give a correlation of 0.35, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LIEN and WGS?
Over the past 3 years, LIEN and WGS moved with a correlation of 0.35, which is moderate. The link has tightened recently: the 1-year correlation (0.51) runs above the 3-year figure (0.35). Over 5 years the correlation is 0.09, and the annualized covariance of weekly returns is 1044.5 %².
In LIEN's tracked universe of 13 assets, WGS sits right near the top at #3. The last year tells two different stories: LIEN led by 36.1 percentage points, +5.2% for LIEN against -30.9% for WGS. One caveat on sizing: WGS is 4.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
LIEN vs WGS: side by side
| LIEN (Chicago Atlantic BDC, Inc.) | WGS (GeneDx Holdings Corp.) | |
|---|---|---|
| 1-year return | +5.2% | -30.9% |
| 5-year return | +11.0% | -69.2% |
| Volatility (ann.) | 26.5% | 113.8% |
| Beta vs S&P 500 | 0.23 | 1.13 |
| Max drawdown (3Y) | -22.5% | -79.4% |
| Market cap | $0.2B | $2.7B |
| P/E (trailing) | 7.3 | – |
| Dividend yield | 13.40% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LIEN | WGS |
|---|---|---|
| 2022 | – | -94.1% |
| 2023 | -1.1% | -68.4% |
| 2024 | +58.6% | +2694.9% |
| 2025 | -4.0% | +69.2% |
| 2026 | +5.2% | -31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LIEN and WGS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LIEN and WGS?
As of 2026-08-27, the correlation of weekly returns between LIEN and WGS is 0.35 over 3 years, 0.51 over 1 year and 0.09 over 5 years.
Is WGS a good diversifier for LIEN?
Yes, to a useful degree: a correlation of 0.35 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 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/lien-vs-wgs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/lien-vs-wgs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LIEN correlations · WGS correlations
