SCWO vs WBX: Correlation
374Water Inc. (SCWO) and Wallbox N.V. Class A (WBX) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SCWO and WBX?
Across a 3-year window, the weekly returns of SCWO and WBX correlate at -0.17, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.18) than the 3-year average (-0.17). Stretching to 5 years gives -0.15, with an annualized covariance of -19957.8 %².
WBX is close to the least connected end of SCWO's tracked universe, ranking #10 of 11. The last year tells two different stories: SCWO led by 21.2 percentage points, -10.7% for SCWO against -31.9% for WBX. One caveat on sizing: WBX is 8.2 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.
SCWO vs WBX: side by side
| SCWO (374Water Inc.) | WBX (Wallbox N.V. Class A) | |
|---|---|---|
| 1-year return | -10.7% | -31.9% |
| 5-year return | -85.7% | -70.7% |
| Volatility (ann.) | 118.3% | 975.4% |
| Beta vs S&P 500 | 0.98 | 4.88 |
| Max drawdown (3Y) | -90.9% | -91.3% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SCWO | WBX |
|---|---|---|
| 2022 | +0.4% | -78.1% |
| 2023 | -50.3% | -51.1% |
| 2024 | -52.1% | -71.4% |
| 2025 | -70.0% | +367.1% |
| 2026 | +31.4% | +23.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SCWO and WBX good diversifiers for each other?
Yes. With a correlation of -0.17, SCWO and WBX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between SCWO and WBX?
Using weekly returns as of 2026-08-27: -0.17 over 3 years, with 0.18 over the last year and -0.15 over 5 years.
Is WBX a good diversifier for SCWO?
Yes. With a correlation of -0.17, SCWO and WBX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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/scwo-vs-wbx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/scwo-vs-wbx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: SCWO correlations · WBX correlations
