WAY vs WTW: Correlation
Measured on weekly returns over the past three years, Waystar Holding Corp. (WAY) and Willis Towers Watson (WTW) carry a correlation of 0.44, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WAY and WTW?
Over the past 3 years, WAY and WTW moved with a correlation of 0.44, which is moderate. The relationship has been stable: the 1-year correlation (0.52) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 472.6 %².
Among the 29 assets we track against WAY, WTW ranks #10 by 3-year correlation. Correlation aside, the last 12 months split them widely, with WTW ahead by 36.3 points (-32.1% versus +4.2%). Risk is not evenly split, since WAY carries 1.9 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.
WAY vs WTW: side by side
| WAY (Waystar Holding Corp.) | WTW (Willis Towers Watson) | |
|---|---|---|
| 1-year return | -32.1% | +4.2% |
| 5-year return | n/a | +68.3% |
| Volatility (ann.) | 43.8% | 23.5% |
| Beta vs S&P 500 | 1.07 | 0.32 |
| Max drawdown (3Y) | -61.8% | -30.4% |
| Market cap | $4.8B | $31.5B |
| P/E (trailing) | 34.6 | 21.2 |
| Dividend yield | 0.00% | 0.55% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | WAY | WTW |
|---|---|---|
| 2022 | – | +4.5% |
| 2023 | – | +0.1% |
| 2024 | – | +31.5% |
| 2025 | -10.8% | +6.1% |
| 2026 | -22.9% | +4.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WAY and WTW good diversifiers for each other?
Reasonably. At 0.44, WAY and WTW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between WAY and WTW?
The WAY/WTW correlation stands at 0.44 on a 3-year window (1 year: 0.52, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WTW a good diversifier for WAY?
Reasonably. At 0.44, WAY and WTW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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
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Related comparisons
Hubs: WAY correlations · WTW correlations
