TLPH vs WEN: Correlation
Measured on weekly returns over the past three years, Talphera, Inc. (TLPH) and Wendy's Company (The) (WEN) carry a correlation of -0.19, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TLPH and WEN?
On 3 years of weekly data the TLPH/WEN correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.40) runs below the 3-year figure (-0.19). The 5-year figure is -0.15, and annualized covariance runs at -536.4 %².
WEN is close to the least connected end of TLPH's tracked universe, ranking #8 of 10. Their recent paths diverged sharply: over the last 12 months TLPH outperformed by 147.9 percentage points (+127.8% for TLPH against -20.1% for WEN). Note the risk asymmetry: TLPH runs 2.8 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.
TLPH vs WEN: side by side
| TLPH (Talphera, Inc.) | WEN (Wendy's Company (The)) | |
|---|---|---|
| 1-year return | +127.8% | -20.1% |
| 5-year return | -94.6% | -56.6% |
| Volatility (ann.) | 88.9% | 31.4% |
| Beta vs S&P 500 | 1.27 | 0.40 |
| Max drawdown (3Y) | -73.5% | -66.3% |
| Market cap | $0.1B | $1.5B |
| P/E (trailing) | – | 11.8 |
| Dividend yield | 0.00% | 6.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TLPH | WEN |
|---|---|---|
| 2022 | -79.8% | -2.8% |
| 2023 | -67.3% | -9.7% |
| 2024 | -29.7% | -11.4% |
| 2025 | +119.2% | -45.8% |
| 2026 | +7.9% | -2.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TLPH and WEN good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TLPH and WEN?
The TLPH/WEN correlation stands at -0.19 on a 3-year window (1 year: -0.40, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is WEN a good diversifier for TLPH?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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
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Related comparisons
Hubs: TLPH correlations · WEN correlations
