PRPL vs WLFC: Correlation
Measured on weekly returns over the past three years, Purple Innovation, Inc. (PRPL) and Willis Lease Finance Corporation (WLFC) carry a correlation of -0.60, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRPL and WLFC?
Over the past 3 years, PRPL and WLFC moved with a correlation of -0.60, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.77) runs below the 3-year figure (-0.60). Over 5 years the correlation is -0.54, and the annualized covariance of weekly returns is -54087.0 %².
WLFC is close to the least connected end of PRPL's tracked universe, ranking #10 of 10. The last year tells two different stories: PRPL led by 367.8 percentage points, +304.5% for PRPL against -63.3% for WLFC. One caveat on sizing: PRPL is 23.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PRPL vs WLFC: side by side
| PRPL (Purple Innovation, Inc.) | WLFC (Willis Lease Finance Corporation) | |
|---|---|---|
| 1-year return | +304.5% | -63.3% |
| 5-year return | -82.0% | +47.2% |
| Volatility (ann.) | 1465.4% | 61.3% |
| Beta vs S&P 500 | -2.51 | 1.30 |
| Max drawdown (3Y) | -87.4% | -77.4% |
| Market cap | – | $1.2B |
| P/E (trailing) | – | 13.8 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRPL | WLFC |
|---|---|---|
| 2022 | -63.9% | +56.7% |
| 2023 | -78.3% | -17.2% |
| 2024 | -24.3% | +327.3% |
| 2025 | -11.4% | -34.5% |
| 2026 | +549.8% | -59.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRPL and WLFC good diversifiers for each other?
Yes. With a correlation of -0.60, PRPL and WLFC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PRPL and WLFC?
The PRPL/WLFC correlation stands at -0.60 on a 3-year window (1 year: -0.77, 5 years: -0.54), computed from weekly returns as of 2026-08-27.
Is WLFC a good diversifier for PRPL?
Yes. With a correlation of -0.60, PRPL and WLFC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.60 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.
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Related comparisons
Hubs: PRPL correlations · WLFC correlations
