OM vs W: Correlation
Measured on weekly returns over the past three years, Outset Medical, Inc. (OM) and Wayfair Inc. (W) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OM and W?
On 3 years of weekly data the OM/W correlation comes out at 0.42, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.42 over 3. The 5-year figure is 0.41, and annualized covariance runs at 3146.2 %².
In OM's tracked universe of 10 assets, W sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months W outperformed by 111.7 percentage points (-70.7% for OM against +41.0% for W). Risk is not evenly split, since OM carries 1.7 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.
OM vs W: side by side
| OM (Outset Medical, Inc.) | W (Wayfair Inc.) | |
|---|---|---|
| 1-year return | -70.7% | +41.0% |
| 5-year return | -99.4% | -64.0% |
| Volatility (ann.) | 112.6% | 67.1% |
| Beta vs S&P 500 | 1.98 | 2.50 |
| Max drawdown (3Y) | -98.5% | -67.7% |
| Market cap | $0.1B | $14.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OM | W |
|---|---|---|
| 2022 | -44.0% | -82.7% |
| 2023 | -79.0% | +87.6% |
| 2024 | -79.5% | -28.2% |
| 2025 | -77.7% | +126.6% |
| 2026 | +10.2% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OM and W good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OM and W?
The OM/W correlation stands at 0.42 on a 3-year window (1 year: 0.34, 5 years: 0.41), computed from weekly returns as of 2026-08-27.
Is W a good diversifier for OM?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/om-vs-w.json
Embed this badge (it refreshes with the data), with attribution:
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Related comparisons
Hubs: OM correlations · W correlations
