RAYA vs WST: Correlation
Measured on weekly returns over the past three years, Erayak Power Solution Group Inc. - Class A (RAYA) and West Pharmaceutical Services (WST) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RAYA and WST?
On 3 years of weekly data the RAYA/WST correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.13) than the 3-year average (-0.25). The 5-year figure is -0.22, and annualized covariance runs at -1595.4 %².
Out of 20 assets tracked against RAYA, WST lands near the bottom at #17. Correlation aside, the last 12 months split them widely, with WST ahead by 138.9 points (-97.8% versus +41.1%). One caveat on sizing: RAYA is 4.2 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.
RAYA vs WST: side by side
| RAYA (Erayak Power Solution Group Inc. - Class A) | WST (West Pharmaceutical Services) | |
|---|---|---|
| 1-year return | -97.8% | +41.1% |
| 5-year return | n/a | -22.4% |
| Volatility (ann.) | 162.4% | 38.6% |
| Beta vs S&P 500 | 0.17 | 0.86 |
| Max drawdown (3Y) | -100.0% | -53.8% |
| Market cap | – | $24.4B |
| P/E (trailing) | – | 44.8 |
| Dividend yield | 0.00% | 0.25% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | RAYA | WST |
|---|---|---|
| 2022 | – | -49.7% |
| 2023 | -44.7% | +50.0% |
| 2024 | +23.6% | -6.8% |
| 2025 | -98.7% | -15.7% |
| 2026 | -94.0% | +26.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RAYA and WST good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between RAYA and WST?
As of 2026-08-27, the correlation of weekly returns between RAYA and WST is -0.25 over 3 years, -0.13 over 1 year and -0.22 over 5 years.
Is WST a good diversifier for RAYA?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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/raya-vs-wst.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/raya-vs-wst/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RAYA correlations · WST correlations
