TOYO vs UP: Correlation
TOYO Co., Ltd (TOYO) and Wheels Up Experience Inc. (UP) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TOYO and UP?
Across a 3-year window, the weekly returns of TOYO and UP correlate at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.04 versus -0.21 over 3 years. Stretching to 5 years gives -0.18, with an annualized covariance of -3273.8 %².
UP is close to the least connected end of TOYO's tracked universe, ranking #10 of 14. The last year tells two different stories: TOYO led by 77.9 percentage points, -13.6% for TOYO against -91.5% for UP.
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.
TOYO vs UP: side by side
| TOYO (TOYO Co., Ltd) | UP (Wheels Up Experience Inc.) | |
|---|---|---|
| 1-year return | -13.6% | -91.5% |
| 5-year return | -54.4% | -99.6% |
| Volatility (ann.) | 107.7% | 142.6% |
| Beta vs S&P 500 | 0.34 | 1.69 |
| Max drawdown (3Y) | -86.3% | -95.8% |
| Market cap | $0.2B | $0.2B |
| P/E (trailing) | 2.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TOYO | UP |
|---|---|---|
| 2022 | – | -77.8% |
| 2023 | +8.0% | -66.7% |
| 2024 | -69.3% | -51.9% |
| 2025 | +73.4% | -60.2% |
| 2026 | -23.2% | -62.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TOYO and UP good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between TOYO and UP?
The TOYO/UP correlation stands at -0.21 on a 3-year window (1 year: -0.04, 5 years: -0.18), computed from weekly returns as of 2026-08-27.
Is UP a good diversifier for TOYO?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: TOYO correlations · UP correlations
