REFR vs WBUY: Correlation
Research Frontiers Incorporated (REFR) and WEBUY GLOBAL LTD. - Class A (WBUY) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are REFR and WBUY?
On 3 years of weekly data the REFR/WBUY correlation comes out at 0.36, moderate. Lately the two have drifted apart, with the 1-year correlation at -0.08 versus 0.36 over 3 years. The 5-year figure is n/a, and annualized covariance runs at 4793.7 %².
In REFR's tracked universe of 11 assets, WBUY sits right near the top at #1. The trailing year gives REFR the advantage: -65.4% versus -72.6%, a 7.2-point spread. Note the risk asymmetry: WBUY runs 2.8 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.
REFR vs WBUY: side by side
| REFR (Research Frontiers Incorporated) | WBUY (WEBUY GLOBAL LTD. - Class A) | |
|---|---|---|
| 1-year return | -65.4% | -72.6% |
| 5-year return | -78.3% | n/a |
| Volatility (ann.) | 68.5% | 193.8% |
| Beta vs S&P 500 | 0.52 | 1.81 |
| Max drawdown (3Y) | -83.5% | -99.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | REFR | WBUY |
|---|---|---|
| 2022 | +11.0% | – |
| 2023 | -47.1% | – |
| 2024 | +69.3% | -66.1% |
| 2025 | -23.4% | -93.7% |
| 2026 | -63.0% | -33.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are REFR and WBUY good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between REFR and WBUY?
The REFR/WBUY correlation stands at 0.36 on a 3-year window (1 year: -0.08, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WBUY a good diversifier for REFR?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/refr-vs-wbuy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/refr-vs-wbuy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: REFR correlations · WBUY correlations
