SMPL vs WAY: Correlation
How closely do The Simply Good Foods Company (SMPL) and Waystar Holding Corp. (WAY) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SMPL and WAY?
Over the past 3 years, SMPL and WAY moved with a correlation of 0.40, which is moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 701.1 %².
Few assets follow SMPL as closely as WAY, which ranks #1 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months WAY outperformed by 32.8 percentage points (-64.9% for SMPL against -32.1% for WAY).
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.
SMPL vs WAY: side by side
| SMPL (The Simply Good Foods Company) | WAY (Waystar Holding Corp.) | |
|---|---|---|
| 1-year return | -64.9% | -32.1% |
| 5-year return | -71.3% | n/a |
| Volatility (ann.) | 37.3% | 43.8% |
| Beta vs S&P 500 | 0.38 | 1.07 |
| Max drawdown (3Y) | -76.2% | -61.8% |
| Market cap | $0.9B | $4.8B |
| P/E (trailing) | – | 34.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SMPL | WAY |
|---|---|---|
| 2022 | -8.5% | – |
| 2023 | +4.1% | – |
| 2024 | -1.6% | – |
| 2025 | -48.5% | -10.8% |
| 2026 | -49.2% | -22.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SMPL and WAY good diversifiers for each other?
Reasonably. At 0.40, SMPL and WAY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SMPL and WAY?
As of 2026-08-27, the correlation of weekly returns between SMPL and WAY is 0.40 over 3 years, 0.49 over 1 year and n/a over 5 years.
Is WAY a good diversifier for SMPL?
Reasonably. At 0.40, SMPL and WAY keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/smpl-vs-way.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/smpl-vs-way/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SMPL correlations · WAY correlations
