TOP vs WELL: Correlation
TOP Financial Group Limited - Class A (TOP) and Welltower (WELL) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TOP and WELL?
Across a 3-year window, the weekly returns of TOP and WELL correlate at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.29) sits close to the 3-year figure. Stretching to 5 years gives 0.04, with an annualized covariance of -938.2 %².
Among the 46 assets we track against TOP, WELL ranks #21 by 3-year correlation. The last year tells two different stories: TOP led by 1173.0 percentage points, +1217.9% for TOP against +44.9% for WELL. Risk is not evenly split, since TOP carries 10.9 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.
TOP vs WELL: side by side
| TOP (TOP Financial Group Limited - Class A) | WELL (Welltower) | |
|---|---|---|
| 1-year return | +1217.9% | +44.9% |
| 5-year return | -9.2% | +214.9% |
| Volatility (ann.) | 230.2% | 21.2% |
| Beta vs S&P 500 | 1.60 | 0.30 |
| Max drawdown (3Y) | -89.6% | -13.0% |
| Market cap | $1.9B | $172.6B |
| P/E (trailing) | – | 108.9 |
| Dividend yield | 0.00% | 1.27% |
| Sector / category | US Listed | Real Estate |
Year-by-year returns
| Year | TOP | WELL |
|---|---|---|
| 2022 | – | -21.2% |
| 2023 | -22.5% | +41.8% |
| 2024 | -59.5% | +43.1% |
| 2025 | -34.3% | +49.9% |
| 2026 | +1434.3% | +30.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TOP and WELL good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between TOP and WELL?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.29 over the last year and 0.04 over 5 years.
Is WELL a good diversifier for TOP?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 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/top-vs-well.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/top-vs-well/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TOP correlations · WELL correlations
