RFL vs WNC: Correlation
Rafael Holdings, Inc. (RFL) and Wabash National Corporation (WNC) 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 RFL and WNC?
Across a 3-year window, the weekly returns of RFL and WNC correlate at 0.36, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.47 versus 0.36 over 3 years. Stretching to 5 years gives 0.27, with an annualized covariance of 1107.3 %².
Within RFL's tracked universe of 10 assets, WNC comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months RFL outperformed by 39.0 percentage points (+58.0% for RFL against +19.0% for WNC).
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.
RFL vs WNC: side by side
| RFL (Rafael Holdings, Inc.) | WNC (Wabash National Corporation) | |
|---|---|---|
| 1-year return | +58.0% | +19.0% |
| 5-year return | -94.5% | -6.2% |
| Volatility (ann.) | 61.2% | 49.9% |
| Beta vs S&P 500 | 0.61 | 0.70 |
| Max drawdown (3Y) | -59.3% | -76.4% |
| Market cap | $0.1B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.56% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RFL | WNC |
|---|---|---|
| 2022 | -63.3% | +18.2% |
| 2023 | -2.1% | +14.9% |
| 2024 | -9.8% | -32.2% |
| 2025 | -27.5% | -48.1% |
| 2026 | +100.8% | +56.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RFL and WNC good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between RFL and WNC?
The RFL/WNC correlation stands at 0.36 on a 3-year window (1 year: 0.47, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is WNC a good diversifier for RFL?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 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/rfl-vs-wnc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rfl-vs-wnc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RFL correlations · WNC correlations
