WALD vs WLK: Correlation
How closely do Waldencast plc - Class A (WALD) and Westlake Corporation (WLK) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WALD and WLK?
Across a 3-year window, the weekly returns of WALD and WLK correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.39) than the 3-year average (-0.20). Stretching to 5 years gives -0.16, with an annualized covariance of -726.2 %².
By 3-year correlation, WLK places #9 of the 14 assets tracked against WALD. Neither side won the trailing year by much: -16.0% against -11.8%. Risk is not evenly split, since WALD 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.
WALD vs WLK: side by side
| WALD (Waldencast plc - Class A) | WLK (Westlake Corporation) | |
|---|---|---|
| 1-year return | -16.0% | -11.8% |
| 5-year return | -86.1% | -8.0% |
| Volatility (ann.) | 95.0% | 39.0% |
| Beta vs S&P 500 | 0.48 | 0.82 |
| Max drawdown (3Y) | -93.4% | -64.2% |
| Market cap | $0.2B | $9.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.84% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | WALD | WLK |
|---|---|---|
| 2022 | -8.8% | +6.8% |
| 2023 | +20.6% | +38.4% |
| 2024 | -63.3% | -16.9% |
| 2025 | -53.2% | -33.8% |
| 2026 | -27.7% | +1.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WALD and WLK good diversifiers for each other?
Yes. With a correlation of -0.20, WALD and WLK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between WALD and WLK?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.39 over the last year and -0.16 over 5 years.
Is WLK a good diversifier for WALD?
Yes. With a correlation of -0.20, WALD and WLK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/wald-vs-wlk.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/wald-vs-wlk/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: WALD correlations · WLK correlations
