LONA vs WHLR: Correlation
How closely do LeonaBio, Inc. (LONA) and Wheeler Real Estate Investment Trust, Inc. (WHLR) trade together? Their weekly returns over three years give a correlation of -0.43, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LONA and WHLR?
On 3 years of weekly data the LONA/WHLR correlation comes out at -0.43, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.11) runs above the 3-year figure (-0.43). The 5-year figure is -0.36, and annualized covariance runs at -24536.2 %².
Among the 11 assets we track against LONA, WHLR sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months LONA outperformed by 197.2 percentage points (+97.2% for LONA against -100.0% for WHLR). One caveat on sizing: WHLR is 5.2 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.
LONA vs WHLR: side by side
| LONA (LeonaBio, Inc.) | WHLR (Wheeler Real Estate Investment Trust, Inc.) | |
|---|---|---|
| 1-year return | +97.2% | -100.0% |
| 5-year return | -92.6% | -100.0% |
| Volatility (ann.) | 104.6% | 545.0% |
| Beta vs S&P 500 | 1.80 | -5.84 |
| Max drawdown (3Y) | -94.5% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LONA | WHLR |
|---|---|---|
| 2022 | -75.7% | -28.0% |
| 2023 | -23.3% | -98.4% |
| 2024 | -75.8% | -98.4% |
| 2025 | +29.0% | -100.0% |
| 2026 | +4.2% | -99.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LONA and WHLR good diversifiers for each other?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
FAQ
What is the correlation between LONA and WHLR?
As of 2026-08-27, the correlation of weekly returns between LONA and WHLR is -0.43 over 3 years, -0.11 over 1 year and -0.36 over 5 years.
Is WHLR a good diversifier for LONA?
By historical standards, yes. A correlation of -0.43 means the two rarely move for the same reasons.
What does a correlation of -0.43 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: LONA correlations · WHLR correlations
