VZ vs WBD: Correlation
Measured on weekly returns over the past three years, Verizon (VZ) and Warner Bros. Discovery (WBD) carry a correlation of 0.21, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are VZ and WBD?
On 3 years of weekly data the VZ/WBD correlation comes out at 0.21, weak. The past 12 months show a weaker link (-0.03) than the 3-year average (0.21). The 5-year figure is 0.25, and annualized covariance runs at 262.8 %².
Among the 31 assets we track against VZ, WBD ranks #18 by 3-year correlation. The last year tells two different stories: WBD led by 118.4 percentage points, +19.3% for VZ against +137.7% for WBD. This link changes with the market regime, having swung between -0.07 and 0.52 on a rolling one-year basis. Risk is not evenly split, since WBD carries 2.4 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.
VZ vs WBD: side by side
| VZ (Verizon) | WBD (Warner Bros. Discovery) | |
|---|---|---|
| 1-year return | +19.3% | +137.7% |
| 5-year return | +23.8% | +3.7% |
| Volatility (ann.) | 22.9% | 54.7% |
| Beta vs S&P 500 | 0.15 | 1.19 |
| Max drawdown (3Y) | -17.0% | -48.9% |
| Market cap | $205.4B | $72.4B |
| P/E (trailing) | 12.9 | – |
| Dividend yield | 5.57% | 0.00% |
| Sector / category | Communication Services | Communication Services |
Year-by-year returns
| Year | VZ | WBD |
|---|---|---|
| 2022 | -20.0% | -59.7% |
| 2023 | +2.7% | +20.0% |
| 2024 | +13.1% | -7.1% |
| 2025 | +8.9% | +172.7% |
| 2026 | +27.5% | +0.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are VZ and WBD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between VZ and WBD?
As of 2026-08-27, the correlation of weekly returns between VZ and WBD is 0.21 over 3 years, -0.03 over 1 year and 0.25 over 5 years.
Is WBD a good diversifier for VZ?
Yes, to a useful degree: a correlation of 0.21 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/vz-vs-wbd.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/vz-vs-wbd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: VZ correlations · WBD correlations
