SPCE vs WIT: Correlation
Measured on weekly returns over the past three years, Virgin Galactic Holdings, Inc. (SPCE) and Wipro Limited (WIT) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPCE and WIT?
On 3 years of weekly data the SPCE/WIT correlation comes out at 0.41, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.58 versus 0.41 over 3 years. The 5-year figure is 0.37, and annualized covariance runs at 1353.0 %².
Within SPCE's tracked universe of 19 assets, WIT comes in at #11 by 3-year correlation. The last year tells two different stories: SPCE led by 32.3 percentage points, -2.9% for SPCE against -35.2% for WIT. Note the risk asymmetry: SPCE runs 3.1 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
SPCE vs WIT: side by side
| SPCE (Virgin Galactic Holdings, Inc.) | WIT (Wipro Limited) | |
|---|---|---|
| 1-year return | -2.9% | -35.2% |
| 5-year return | -99.4% | -58.2% |
| Volatility (ann.) | 100.5% | 32.7% |
| Beta vs S&P 500 | 2.82 | 0.88 |
| Max drawdown (3Y) | -96.0% | -51.2% |
| Market cap | $0.5B | $17.8B |
| P/E (trailing) | – | 13.8 |
| Dividend yield | 0.00% | 437.16% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPCE | WIT |
|---|---|---|
| 2022 | -74.0% | -51.8% |
| 2023 | -29.6% | +19.8% |
| 2024 | -88.0% | +27.4% |
| 2025 | -45.4% | -16.6% |
| 2026 | -6.5% | -35.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPCE and WIT good diversifiers for each other?
Reasonably. At 0.41, SPCE and WIT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between SPCE and WIT?
As of 2026-08-27, the correlation of weekly returns between SPCE and WIT is 0.41 over 3 years, 0.58 over 1 year and 0.37 over 5 years.
Is WIT a good diversifier for SPCE?
Reasonably. At 0.41, SPCE and WIT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/spce-vs-wit.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/spce-vs-wit/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: SPCE correlations · WIT correlations
