NATH vs WSBF: Correlation
Nathan's Famous, Inc. (NATH) and Waterstone Financial, Inc. (WSBF) show a moderate relationship: their 3-year correlation of weekly returns is 0.44.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NATH and WSBF?
Over the past 3 years, NATH and WSBF moved with a correlation of 0.44, which is moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.44). Over 5 years the correlation is 0.42, and the annualized covariance of weekly returns is 291.3 %².
Within NATH's tracked universe of 14 assets, WSBF comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WSBF outperformed by 55.4 percentage points (-5.5% for NATH against +49.9% for WSBF).
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.
NATH vs WSBF: side by side
| NATH (Nathan's Famous, Inc.) | WSBF (Waterstone Financial, Inc.) | |
|---|---|---|
| 1-year return | -5.5% | +49.9% |
| 5-year return | +68.7% | +33.3% |
| Volatility (ann.) | 25.3% | 26.2% |
| Beta vs S&P 500 | 0.50 | 0.61 |
| Max drawdown (3Y) | -19.5% | -26.5% |
| Market cap | $0.4B | $0.4B |
| P/E (trailing) | 20.2 | 12.1 |
| Dividend yield | 2.05% | 3.05% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NATH | WSBF |
|---|---|---|
| 2022 | +18.7% | -15.8% |
| 2023 | +19.2% | -13.1% |
| 2024 | +3.5% | -0.9% |
| 2025 | +24.6% | +28.8% |
| 2026 | +5.5% | +30.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NATH and WSBF good diversifiers for each other?
Reasonably. At 0.44, NATH and WSBF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between NATH and WSBF?
The NATH/WSBF correlation stands at 0.44 on a 3-year window (1 year: 0.19, 5 years: 0.42), computed from weekly returns as of 2026-08-27.
Is WSBF a good diversifier for NATH?
Reasonably. At 0.44, NATH and WSBF keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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/nath-vs-wsbf.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nath-vs-wsbf/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NATH correlations · WSBF correlations
