SNPS vs WLDS: Correlation
How closely do Synopsys (SNPS) and Wearable Devices Ltd. (WLDS) trade together? Their weekly returns over three years give a correlation of -0.37, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNPS and WLDS?
Over the past 3 years, SNPS and WLDS moved with a correlation of -0.37, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.50) than the 3-year average (-0.37). Over 5 years the correlation is -0.32, and the annualized covariance of weekly returns is -7513.8 %².
Among the 33 assets we track against SNPS, WLDS sits near the bottom by co-movement, at rank #30. The last year tells two different stories: SNPS led by 53.6 percentage points, -22.9% for SNPS against -76.5% for WLDS. Risk is not evenly split, since WLDS carries 11.3 times the volatility of the other side.
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 WLDS: side by side
| SNPS (Synopsys) | WLDS (Wearable Devices Ltd.) | |
|---|---|---|
| 1-year return | -22.9% | -76.5% |
| 5-year return | +39.1% | n/a |
| Volatility (ann.) | 42.2% | 475.5% |
| Beta vs S&P 500 | 1.57 | 3.22 |
| Max drawdown (3Y) | -42.3% | -99.8% |
| Market cap | $89.1B | – |
| P/E (trailing) | 71.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | SNPS | WLDS |
|---|---|---|
| 2022 | -13.4% | – |
| 2023 | +61.3% | -21.1% |
| 2024 | -5.7% | -68.3% |
| 2025 | -3.2% | -86.9% |
| 2026 | -1.0% | -77.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNPS and WLDS good diversifiers for each other?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
FAQ
What is the correlation between SNPS and WLDS?
As of 2026-08-27, the correlation of weekly returns between SNPS and WLDS is -0.37 over 3 years, -0.50 over 1 year and -0.32 over 5 years.
Is WLDS a good diversifier for SNPS?
By historical standards, yes. A correlation of -0.37 means the two rarely move for the same reasons.
What does a correlation of -0.37 mean?
A reading of -0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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Related comparisons
Hubs: SNPS correlations · WLDS correlations
