TOP vs WU: Correlation
Measured on weekly returns over the past three years, TOP Financial Group Limited - Class A (TOP) and Western Union Company (The) (WU) 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 TOP and WU?
Across a 3-year window, the weekly returns of TOP and WU correlate at -0.34, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.48) than the 3-year average (-0.34). Stretching to 5 years gives -0.08, with an annualized covariance of -2456.4 %².
Among the 46 assets we track against TOP, WU sits near the bottom by co-movement, at rank #43. Their recent paths diverged sharply: over the last 12 months TOP outperformed by 1223.7 percentage points (+1217.9% for TOP against -5.8% for WU). One caveat on sizing: TOP is 7.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 WU: side by side
| TOP (TOP Financial Group Limited - Class A) | WU (Western Union Company (The)) | |
|---|---|---|
| 1-year return | +1217.9% | -5.8% |
| 5-year return | -9.2% | -49.2% |
| Volatility (ann.) | 230.2% | 31.1% |
| Beta vs S&P 500 | 1.60 | 0.48 |
| Max drawdown (3Y) | -89.6% | -43.2% |
| Market cap | $1.9B | $2.2B |
| P/E (trailing) | – | 5.9 |
| Dividend yield | 0.00% | 12.95% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TOP | WU |
|---|---|---|
| 2022 | – | -17.9% |
| 2023 | -22.5% | -6.2% |
| 2024 | -59.5% | -3.8% |
| 2025 | -34.3% | -2.6% |
| 2026 | +1434.3% | -18.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TOP and WU good diversifiers for each other?
Yes. With a correlation of -0.34, TOP and WU have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TOP and WU?
As of 2026-08-27, the correlation of weekly returns between TOP and WU is -0.34 over 3 years, -0.48 over 1 year and -0.08 over 5 years.
Is WU a good diversifier for TOP?
Yes. With a correlation of -0.34, TOP and WU 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/top-vs-wu.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/top-vs-wu/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TOP correlations · WU correlations
