TTE vs WAY: Correlation
TotalEnergies SE (TTE) and Waystar Holding Corp. (WAY) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are TTE and WAY?
Across a 3-year window, the weekly returns of TTE and WAY correlate at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.30 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -310.6 %².
WAY is close to the least connected end of TTE's tracked universe, ranking #17 of 17. Correlation aside, the last 12 months split them widely, with TTE ahead by 77.1 points (+45.0% versus -32.1%). Risk is not evenly split, since WAY carries 2.0 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.
TTE vs WAY: side by side
| TTE (TotalEnergies SE) | WAY (Waystar Holding Corp.) | |
|---|---|---|
| 1-year return | +45.0% | -32.1% |
| 5-year return | +156.2% | n/a |
| Volatility (ann.) | 21.8% | 43.8% |
| Beta vs S&P 500 | 0.09 | 1.07 |
| Max drawdown (3Y) | -26.2% | -61.8% |
| Market cap | $191.0B | $4.8B |
| P/E (trailing) | 10.9 | 34.6 |
| Dividend yield | 4.65% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | TTE | WAY |
|---|---|---|
| 2022 | +34.6% | – |
| 2023 | +14.2% | – |
| 2024 | -14.7% | – |
| 2025 | +27.5% | -10.8% |
| 2026 | +33.4% | -22.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are TTE and WAY good diversifiers for each other?
Yes. With a correlation of -0.30, TTE and WAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between TTE and WAY?
The TTE/WAY correlation stands at -0.30 on a 3-year window (1 year: -0.37, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WAY a good diversifier for TTE?
Yes. With a correlation of -0.30, TTE and WAY have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 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/tte-vs-way.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/tte-vs-way/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: TTE correlations · WAY correlations
