NEWT vs WLFC: Correlation
NewtekOne, Inc. (NEWT) and Willis Lease Finance Corporation (WLFC) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEWT and WLFC?
Over the past 3 years, NEWT and WLFC moved with a correlation of 0.47, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 1114.2 %².
Within NEWT's tracked universe of 17 assets, WLFC comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with NEWT ahead by 69.2 points (+5.9% versus -63.3%). One caveat on sizing: WLFC is 1.6 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.
NEWT vs WLFC: side by side
| NEWT (NewtekOne, Inc.) | WLFC (Willis Lease Finance Corporation) | |
|---|---|---|
| 1-year return | +5.9% | -63.3% |
| 5-year return | -35.1% | +47.2% |
| Volatility (ann.) | 38.9% | 61.3% |
| Beta vs S&P 500 | 1.15 | 1.30 |
| Max drawdown (3Y) | -43.8% | -77.4% |
| Market cap | $0.4B | $1.2B |
| P/E (trailing) | 5.6 | 13.8 |
| Dividend yield | 6.16% | 0.88% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEWT | WLFC |
|---|---|---|
| 2022 | -33.2% | +56.7% |
| 2023 | -10.7% | -17.2% |
| 2024 | -1.6% | +327.3% |
| 2025 | -4.9% | -34.5% |
| 2026 | +11.9% | -59.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEWT and WLFC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NEWT and WLFC?
As of 2026-08-27, the correlation of weekly returns between NEWT and WLFC is 0.47 over 3 years, 0.52 over 1 year and 0.37 over 5 years.
Is WLFC a good diversifier for NEWT?
Yes, to a useful degree: a correlation of 0.47 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.47 mean?
On the −1 to +1 scale, 0.47 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/newt-vs-wlfc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/newt-vs-wlfc/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: NEWT correlations · WLFC correlations
