PESI vs WLDS: Correlation
Perma-Fix Environmental Services, Inc. (PESI) and Wearable Devices Ltd. (WLDS) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PESI and WLDS?
Across a 3-year window, the weekly returns of PESI and WLDS correlate at -0.22, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.40) than the 3-year average (-0.22). Stretching to 5 years gives -0.17, with an annualized covariance of -6338.1 %².
WLDS is close to the least connected end of PESI's tracked universe, ranking #8 of 10. Their recent paths diverged sharply: over the last 12 months PESI outperformed by 137.9 percentage points (+61.4% for PESI against -76.5% for WLDS). Risk is not evenly split, since WLDS carries 8.0 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.
PESI vs WLDS: side by side
| PESI (Perma-Fix Environmental Services, Inc.) | WLDS (Wearable Devices Ltd.) | |
|---|---|---|
| 1-year return | +61.4% | -76.5% |
| 5-year return | +234.5% | n/a |
| Volatility (ann.) | 59.3% | 475.5% |
| Beta vs S&P 500 | 1.10 | 3.22 |
| Max drawdown (3Y) | -58.0% | -99.8% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PESI | WLDS |
|---|---|---|
| 2022 | -44.2% | – |
| 2023 | +122.7% | -21.1% |
| 2024 | +40.8% | -68.3% |
| 2025 | +13.7% | -86.9% |
| 2026 | +53.3% | -77.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PESI and WLDS good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between PESI and WLDS?
The PESI/WLDS correlation stands at -0.22 on a 3-year window (1 year: -0.40, 5 years: -0.17), computed from weekly returns as of 2026-08-27.
Is WLDS a good diversifier for PESI?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pesi-vs-wlds.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pesi-vs-wlds/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PESI correlations · WLDS correlations
