THRY vs XWEL: Correlation
Measured on weekly returns over the past three years, Thryv Holdings, Inc. (THRY) and XWELL, Inc. (XWEL) carry a correlation of -0.34, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are THRY and XWEL?
Over the past 3 years, THRY and XWEL moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.43 lands near the 3-year figure. Over 5 years the correlation is -0.26, and the annualized covariance of weekly returns is -4121.5 %².
Among the 15 assets we track against THRY, XWEL sits near the bottom by co-movement, at rank #15. The last year tells two different stories: XWEL led by 78.0 percentage points, -85.5% for THRY against -7.5% for XWEL. Note the risk asymmetry: XWEL runs 2.9 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.
THRY vs XWEL: side by side
| THRY (Thryv Holdings, Inc.) | XWEL (XWELL, Inc.) | |
|---|---|---|
| 1-year return | -85.5% | -7.5% |
| 5-year return | -93.9% | -97.2% |
| Volatility (ann.) | 64.7% | 188.4% |
| Beta vs S&P 500 | 1.23 | 0.41 |
| Max drawdown (3Y) | -92.1% | -92.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | THRY | XWEL |
|---|---|---|
| 2022 | -53.8% | -82.2% |
| 2023 | +7.1% | -75.8% |
| 2024 | -27.3% | -13.2% |
| 2025 | -59.1% | -69.5% |
| 2026 | -68.6% | +115.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are THRY and XWEL good diversifiers for each other?
Yes. With a correlation of -0.34, THRY and XWEL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between THRY and XWEL?
The THRY/XWEL correlation stands at -0.34 on a 3-year window (1 year: -0.43, 5 years: -0.26), computed from weekly returns as of 2026-08-27.
Is XWEL a good diversifier for THRY?
Yes. With a correlation of -0.34, THRY and XWEL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 mean?
A reading of -0.34 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
$ curl https://www.pairbook.io/api/v1/pairs/thry-vs-xwel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/thry-vs-xwel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: THRY correlations · XWEL correlations
