PIPR vs PWP: Correlation
Measured on weekly returns over the past three years, Piper Sandler Companies (PIPR) and Perella Weinberg Partners (PWP) carry a correlation of 0.69, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PIPR and PWP?
Over the past 3 years, PIPR and PWP moved with a correlation of 0.69, which is strong. Lately the two have drifted apart, with the 1-year correlation at 0.53 versus 0.69 over 3 years. Over 5 years the correlation is 0.62, and the annualized covariance of weekly returns is 929.2 %².
Within PIPR's tracked universe of 23 assets, PWP comes in at #8 by 3-year correlation. The trailing year gives PIPR the advantage: -9.2% versus -23.3%, a 14.1-point spread.
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.
PIPR vs PWP: side by side
| PIPR (Piper Sandler Companies) | PWP (Perella Weinberg Partners) | |
|---|---|---|
| 1-year return | -9.2% | -23.3% |
| 5-year return | +143.0% | +35.6% |
| Volatility (ann.) | 33.6% | 40.0% |
| Beta vs S&P 500 | 1.35 | 1.36 |
| Max drawdown (3Y) | -38.8% | -43.1% |
| Market cap | $5.3B | $1.7B |
| P/E (trailing) | 17.3 | 62.8 |
| Dividend yield | 0.97% | 1.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PIPR | PWP |
|---|---|---|
| 2022 | -23.4% | -21.2% |
| 2023 | +37.8% | +28.4% |
| 2024 | +74.2% | +98.2% |
| 2025 | +15.5% | -26.5% |
| 2026 | -10.2% | -1.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PIPR and PWP good diversifiers for each other?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PIPR and PWP?
Using weekly returns as of 2026-08-27: 0.69 over 3 years, with 0.53 over the last year and 0.62 over 5 years.
Is PWP a good diversifier for PIPR?
To a limited degree. At 0.69 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.69 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/pipr-vs-pwp.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pipr-vs-pwp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PIPR correlations · PWP correlations
