MO vs WAY: Correlation
Measured on weekly returns over the past three years, Altria (MO) and Waystar Holding Corp. (WAY) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MO and WAY?
Across a 3-year window, the weekly returns of MO and WAY correlate at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -246.3 %².
By 3-year correlation, WAY places #41 of the 49 assets tracked against MO. Correlation aside, the last 12 months split them widely, with MO ahead by 40.9 points (+8.8% versus -32.1%). Risk is not evenly split, since WAY carries 2.0 times the volatility of the other side.
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.
MO vs WAY: side by side
| MO (Altria) | WAY (Waystar Holding Corp.) | |
|---|---|---|
| 1-year return | +8.8% | -32.1% |
| 5-year return | +100.4% | n/a |
| Volatility (ann.) | 21.8% | 43.8% |
| Beta vs S&P 500 | -0.07 | 1.07 |
| Max drawdown (3Y) | -16.4% | -61.8% |
| Market cap | $113.0B | $4.8B |
| P/E (trailing) | 14.6 | 34.6 |
| Dividend yield | 6.13% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | MO | WAY |
|---|---|---|
| 2022 | +4.4% | – |
| 2023 | -3.7% | – |
| 2024 | +40.8% | – |
| 2025 | +18.2% | -10.8% |
| 2026 | +21.1% | -22.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MO and WAY good diversifiers for each other?
Yes. With a correlation of -0.24, MO and WAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between MO and WAY?
The MO/WAY correlation stands at -0.24 on a 3-year window (1 year: -0.30, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WAY a good diversifier for MO?
Yes. With a correlation of -0.24, MO and WAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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/mo-vs-way.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/mo-vs-way/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: MO correlations · WAY correlations
