NEU vs WTW: Correlation
Measured on weekly returns over the past three years, NewMarket Corp (NEU) and Willis Towers Watson (WTW) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEU and WTW?
On 3 years of weekly data the NEU/WTW correlation comes out at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.48 lands near the 3-year figure. The 5-year figure is 0.34, and annualized covariance runs at 279.5 %².
Within NEU's tracked universe of 10 assets, WTW comes in at #4 by 3-year correlation. On 12-month performance NEU holds a 9.9-point edge, +14.1% against +4.2%.
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.
NEU vs WTW: side by side
| NEU (NewMarket Corp) | WTW (Willis Towers Watson) | |
|---|---|---|
| 1-year return | +14.1% | +4.2% |
| 5-year return | +195.8% | +68.3% |
| Volatility (ann.) | 27.9% | 23.5% |
| Beta vs S&P 500 | 0.58 | 0.32 |
| Max drawdown (3Y) | -32.8% | -30.4% |
| Market cap | $8.5B | $31.5B |
| P/E (trailing) | 19.9 | 21.2 |
| Dividend yield | 1.27% | 0.55% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | NEU | WTW |
|---|---|---|
| 2022 | -6.7% | +4.5% |
| 2023 | +79.1% | +0.1% |
| 2024 | -1.5% | +31.5% |
| 2025 | +32.3% | +6.1% |
| 2026 | +35.6% | +4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEU and WTW good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NEU and WTW?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.48 over the last year and 0.34 over 5 years.
Is WTW a good diversifier for NEU?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/neu-vs-wtw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/neu-vs-wtw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NEU correlations · WTW correlations
