PRIM vs WALD: Correlation
Primoris Services Corporation (PRIM) and Waldencast plc - Class A (WALD) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRIM and WALD?
Over the past 3 years, PRIM and WALD moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.50) than the 3-year average (-0.25). Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -1211.9 %².
Among the 20 assets we track against PRIM, WALD sits near the bottom by co-movement, at rank #17. The last year tells two different stories: WALD led by 18.2 percentage points, -34.2% for PRIM against -16.0% for WALD. Note the risk asymmetry: WALD runs 1.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PRIM vs WALD: side by side
| PRIM (Primoris Services Corporation) | WALD (Waldencast plc - Class A) | |
|---|---|---|
| 1-year return | -34.2% | -16.0% |
| 5-year return | +212.4% | -86.1% |
| Volatility (ann.) | 50.6% | 95.0% |
| Beta vs S&P 500 | 1.49 | 0.48 |
| Max drawdown (3Y) | -63.1% | -93.4% |
| Market cap | $4.2B | $0.2B |
| P/E (trailing) | 30.7 | – |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRIM | WALD |
|---|---|---|
| 2022 | -7.5% | -8.8% |
| 2023 | +52.6% | +20.6% |
| 2024 | +131.1% | -63.3% |
| 2025 | +63.1% | -53.2% |
| 2026 | -37.9% | -27.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRIM and WALD good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PRIM and WALD?
As of 2026-08-27, the correlation of weekly returns between PRIM and WALD is -0.25 over 3 years, -0.50 over 1 year and -0.22 over 5 years.
Is WALD a good diversifier for PRIM?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 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/prim-vs-wald.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/prim-vs-wald/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PRIM correlations · WALD correlations
