PLNT vs WING: Correlation
How closely do Planet Fitness, Inc. (PLNT) and Wingstop Inc. (WING) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PLNT and WING?
On 3 years of weekly data the PLNT/WING correlation comes out at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.43 lands near the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 766.7 %².
By 3-year correlation, WING places #5 of the 24 assets tracked against PLNT. The last year tells two different stories: PLNT led by 16.2 percentage points, -51.1% for PLNT against -67.3% for WING.
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.
PLNT vs WING: side by side
| PLNT (Planet Fitness, Inc.) | WING (Wingstop Inc.) | |
|---|---|---|
| 1-year return | -51.1% | -67.3% |
| 5-year return | -36.6% | -31.4% |
| Volatility (ann.) | 39.0% | 55.1% |
| Beta vs S&P 500 | 0.42 | 1.29 |
| Max drawdown (3Y) | -61.2% | -74.0% |
| Market cap | $3.9B | $3.0B |
| P/E (trailing) | 17.6 | 26.5 |
| Dividend yield | 0.00% | 1.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PLNT | WING |
|---|---|---|
| 2022 | -13.0% | -17.1% |
| 2023 | -7.4% | +87.3% |
| 2024 | +35.4% | +11.1% |
| 2025 | +9.7% | -15.7% |
| 2026 | -52.3% | -53.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PLNT and WING good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PLNT and WING?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.43 over the last year and 0.36 over 5 years.
Is WING a good diversifier for PLNT?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 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/plnt-vs-wing.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/plnt-vs-wing/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PLNT correlations · WING correlations
