LION vs WBD: Correlation
Lionsgate Studios Corp (LION) and Warner Bros. Discovery (WBD) show a moderate relationship: their 3-year correlation of weekly returns is 0.33.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LION and WBD?
Across a 3-year window, the weekly returns of LION and WBD correlate at 0.33, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.33 over 3. Stretching to 5 years gives 0.27, with an annualized covariance of 826.9 %².
In LION's tracked universe of 10 assets, WBD sits right near the top at #2. The last year tells two different stories: WBD led by 58.8 percentage points, +78.9% for LION against +137.7% for WBD.
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.
LION vs WBD: side by side
| LION (Lionsgate Studios Corp) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | +78.9% | +137.7% |
| 5-year return | +19.0% | +3.7% |
| Volatility (ann.) | 46.5% | 54.7% |
| Beta vs S&P 500 | 0.70 | 1.19 |
| Max drawdown (3Y) | -55.4% | -48.9% |
| Market cap | $3.4B | $72.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Communication Services |
Year-by-year returns
| Year | LION | WBD |
|---|---|---|
| 2022 | – | -59.7% |
| 2023 | +6.6% | +20.0% |
| 2024 | -28.3% | -7.1% |
| 2025 | +20.1% | +172.7% |
| 2026 | +26.4% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LION and WBD good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LION and WBD?
As of 2026-08-27, the correlation of weekly returns between LION and WBD is 0.33 over 3 years, 0.40 over 1 year and 0.27 over 5 years.
Is WBD a good diversifier for LION?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
A reading of 0.33 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/lion-vs-wbd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lion-vs-wbd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LION correlations · WBD correlations
