NEWT vs WRBY: Correlation
Measured on weekly returns over the past three years, NewtekOne, Inc. (NEWT) and Warby Parker Inc. (WRBY) carry a correlation of 0.47, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NEWT and WRBY?
Over the past 3 years, NEWT and WRBY moved with a correlation of 0.47, which is moderate. Recent behaviour matches the longer record: 0.56 over 1 year against 0.47 over 3. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 1134.0 %².
By 3-year correlation, WRBY places #8 of the 17 assets tracked against NEWT. Over the last 12 months NEWT came out ahead by 10.6 percentage points (+5.9% against -4.7%). One caveat on sizing: WRBY 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 WRBY: side by side
| NEWT (NewtekOne, Inc.) | WRBY (Warby Parker Inc.) | |
|---|---|---|
| 1-year return | +5.9% | -4.7% |
| 5-year return | -35.1% | -53.6% |
| Volatility (ann.) | 38.9% | 62.2% |
| Beta vs S&P 500 | 1.15 | 1.49 |
| Max drawdown (3Y) | -43.8% | -50.7% |
| Market cap | $0.4B | $3.1B |
| P/E (trailing) | 5.6 | 421.2 |
| Dividend yield | 6.16% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NEWT | WRBY |
|---|---|---|
| 2022 | -33.2% | -71.0% |
| 2023 | -10.7% | +4.5% |
| 2024 | -1.6% | +71.7% |
| 2025 | -4.9% | -10.0% |
| 2026 | +11.9% | +16.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NEWT and WRBY 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 WRBY?
The NEWT/WRBY correlation stands at 0.47 on a 3-year window (1 year: 0.56, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is WRBY 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-wrby.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/newt-vs-wrby/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: NEWT correlations · WRBY correlations
