RSG vs WM: Correlation
Measured on weekly returns over the past three years, Republic Services (RSG) and Waste Management (WM) carry a correlation of 0.83, a very strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RSG and WM?
Over the past 3 years, RSG and WM moved with a correlation of 0.83, which is very strong, meaning they move nearly in lockstep. Recent behaviour matches the longer record: 0.87 over 1 year against 0.83 over 3. Over 5 years the correlation is 0.86, and the annualized covariance of weekly returns is 245.9 %².
In RSG's tracked universe of 38 assets, WM sits right near the top at #1. Neither side won the trailing year by much: -5.6% against -2.0%. The rolling one-year correlation stayed in a tight band between 0.77 and 0.89 over the past three years, which points to a structural rather than episodic relationship.
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.
RSG vs WM: side by side
| RSG (Republic Services) | WM (Waste Management) | |
|---|---|---|
| 1-year return | -5.6% | -2.0% |
| 5-year return | +87.9% | +51.8% |
| Volatility (ann.) | 16.2% | 18.3% |
| Beta vs S&P 500 | 0.17 | 0.07 |
| Max drawdown (3Y) | -22.5% | -18.1% |
| Market cap | $67.1B | $87.0B |
| P/E (trailing) | 31.0 | 30.8 |
| Dividend yield | 1.13% | 1.60% |
| Sector / category | Industrials | Industrials |
Year-by-year returns
| Year | RSG | WM |
|---|---|---|
| 2022 | -6.2% | -4.5% |
| 2023 | +29.6% | +16.2% |
| 2024 | +23.0% | +14.3% |
| 2025 | +6.4% | +10.5% |
| 2026 | +4.4% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RSG and WM good diversifiers for each other?
No: a correlation of 0.83 means RSG and WM tend to fall together, which is precisely when diversification is supposed to help.
FAQ
What is the correlation between RSG and WM?
As of 2026-08-27, the correlation of weekly returns between RSG and WM is 0.83 over 3 years, 0.87 over 1 year and 0.86 over 5 years.
Is WM a good diversifier for RSG?
No: a correlation of 0.83 means RSG and WM tend to fall together, which is precisely when diversification is supposed to help.
What does a correlation of 0.83 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/rsg-vs-wm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/rsg-vs-wm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: RSG correlations · WM correlations
