PSKY vs WBD: Correlation
Paramount Skydance Corporation (PSKY) and Warner Bros. Discovery (WBD) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PSKY and WBD?
Over the past 3 years, PSKY and WBD moved with a correlation of 0.51, which is moderate. Little has changed lately, as the 1-year reading of 0.42 lands near the 3-year figure. Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 1516.2 %².
In PSKY's tracked universe of 32 assets, WBD sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months WBD outperformed by 163.6 percentage points (-25.9% for PSKY against +137.7% for WBD). The rolling one-year correlation moved between 0.42 and 0.76 over the past three years, a moderate range.
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.
PSKY vs WBD: side by side
| PSKY (Paramount Skydance Corporation) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | -25.9% | +137.7% |
| 5-year return | -69.8% | +3.7% |
| Volatility (ann.) | 54.4% | 54.7% |
| Beta vs S&P 500 | 0.92 | 1.19 |
| Max drawdown (3Y) | -59.9% | -48.9% |
| Market cap | $12.1B | $72.4B |
| P/E (trailing) | 360.0 | – |
| Dividend yield | 1.86% | 0.00% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | PSKY | WBD |
|---|---|---|
| 2022 | -41.8% | -59.7% |
| 2023 | -10.4% | +20.0% |
| 2024 | -28.0% | -7.1% |
| 2025 | +30.0% | +172.7% |
| 2026 | -18.6% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PSKY and WBD good diversifiers for each other?
To a limited degree. At 0.51 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 PSKY and WBD?
Using weekly returns as of 2026-08-27: 0.51 over 3 years, with 0.42 over the last year and 0.56 over 5 years.
Is WBD a good diversifier for PSKY?
To a limited degree. At 0.51 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 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/psky-vs-wbd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/psky-vs-wbd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PSKY correlations · WBD correlations
