SNPS vs WBD: Correlation
Synopsys (SNPS) and Warner Bros. Discovery (WBD) show a negative relationship: their 3-year correlation of weekly returns is -0.13.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNPS and WBD?
Over the past 3 years, SNPS and WBD moved with a correlation of -0.13, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.36) runs below the 3-year figure (-0.13). Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -309.2 %².
Among the 33 assets we track against SNPS, WBD ranks #23 by 3-year correlation. The last year tells two different stories: WBD led by 160.6 percentage points, -22.9% for SNPS against +137.7% for WBD. This link changes with the market regime, having swung between -0.39 and 0.33 on a rolling one-year basis.
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.
SNPS vs WBD: side by side
| SNPS (Synopsys) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | -22.9% | +137.7% |
| 5-year return | +39.1% | +3.7% |
| Volatility (ann.) | 42.2% | 54.7% |
| Beta vs S&P 500 | 1.57 | 1.19 |
| Max drawdown (3Y) | -42.3% | -48.9% |
| Market cap | $89.1B | $72.4B |
| P/E (trailing) | 71.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | Communication Services |
Year-by-year returns
| Year | SNPS | WBD |
|---|---|---|
| 2022 | -13.4% | -59.7% |
| 2023 | +61.3% | +20.0% |
| 2024 | -5.7% | -7.1% |
| 2025 | -3.2% | +172.7% |
| 2026 | -1.0% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNPS and WBD good diversifiers for each other?
Yes: at -0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between SNPS and WBD?
As of 2026-08-27, the correlation of weekly returns between SNPS and WBD is -0.13 over 3 years, -0.36 over 1 year and -0.03 over 5 years.
Is WBD a good diversifier for SNPS?
Yes: at -0.13, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.13 mean?
On the −1 to +1 scale, -0.13 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/snps-vs-wbd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/snps-vs-wbd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SNPS correlations · WBD correlations
