RAND vs WING: Correlation
Measured on weekly returns over the past three years, Rand Capital Corporation - Closed End Fund (RAND) and Wingstop Inc. (WING) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RAND and WING?
Across a 3-year window, the weekly returns of RAND and WING correlate at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.20) sits close to the 3-year figure. Stretching to 5 years gives -0.14, with an annualized covariance of -439.9 %².
WING is close to the least connected end of RAND's tracked universe, ranking #12 of 12. Correlation aside, the last 12 months split them widely, with RAND ahead by 45.6 points (-21.7% versus -67.3%).
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.
RAND vs WING: side by side
| RAND (Rand Capital Corporation - Closed End Fund) | WING (Wingstop Inc.) | |
|---|---|---|
| 1-year return | -21.7% | -67.3% |
| 5-year return | +9.9% | -31.4% |
| Volatility (ann.) | 38.7% | 55.1% |
| Beta vs S&P 500 | -0.01 | 1.29 |
| Max drawdown (3Y) | -60.1% | -74.0% |
| Market cap | – | $3.0B |
| P/E (trailing) | – | 26.5 |
| Dividend yield | 10.33% | 1.07% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RAND | WING |
|---|---|---|
| 2022 | -17.0% | -17.1% |
| 2023 | +7.5% | +87.3% |
| 2024 | +91.4% | +11.1% |
| 2025 | -34.8% | -15.7% |
| 2026 | +2.3% | -53.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RAND and WING good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between RAND and WING?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with -0.20 over the last year and -0.14 over 5 years.
Is WING a good diversifier for RAND?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 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/rand-vs-wing.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rand-vs-wing/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RAND correlations · WING correlations
