TREE vs WD: Correlation
How closely do LendingTree, Inc. (TREE) and Walker & Dunlop, Inc (WD) trade together? Their weekly returns over three years give a correlation of 0.58, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TREE and WD?
Across a 3-year window, the weekly returns of TREE and WD correlate at 0.58, moderate. The past 12 months show a weaker link (0.41) than the 3-year average (0.58). Stretching to 5 years gives 0.57, with an annualized covariance of 1714.2 %².
Among the 15 assets we track against TREE, WD ranks #5 by 3-year correlation. On 12-month performance WD holds a 7.2-point edge, -58.2% against -51.0%. Note the risk asymmetry: TREE runs 2.0 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.
TREE vs WD: side by side
| TREE (LendingTree, Inc.) | WD (Walker & Dunlop, Inc) | |
|---|---|---|
| 1-year return | -58.2% | -51.0% |
| 5-year return | -83.0% | -53.5% |
| Volatility (ann.) | 76.1% | 38.5% |
| Beta vs S&P 500 | 1.99 | 1.12 |
| Max drawdown (3Y) | -63.0% | -63.4% |
| Market cap | $0.4B | $1.4B |
| P/E (trailing) | 2.3 | 36.0 |
| Dividend yield | 0.00% | 6.70% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TREE | WD |
|---|---|---|
| 2022 | -82.6% | -46.8% |
| 2023 | +42.1% | +46.0% |
| 2024 | +27.8% | -10.1% |
| 2025 | +37.0% | -35.9% |
| 2026 | -46.7% | -29.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TREE and WD good diversifiers for each other?
Only partially. A correlation of 0.58 means TREE and WD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between TREE and WD?
Using weekly returns as of 2026-08-27: 0.58 over 3 years, with 0.41 over the last year and 0.57 over 5 years.
Is WD a good diversifier for TREE?
Only partially. A correlation of 0.58 means TREE and WD share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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
$ curl https://www.pairbook.io/api/v1/pairs/tree-vs-wd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/tree-vs-wd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: TREE correlations · WD correlations
