WBD vs WLDS: Correlation
How closely do Warner Bros. Discovery (WBD) and Wearable Devices Ltd. (WLDS) trade together? Their weekly returns over three years give a correlation of 0.56, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WBD and WLDS?
On 3 years of weekly data the WBD/WLDS correlation comes out at 0.56, moderate. The past 12 months show a tighter link (0.83) than the 3-year average (0.56). The 5-year figure is 0.48, and annualized covariance runs at 14650.1 %².
Few assets follow WBD as closely as WLDS, which ranks #2 of 36 tracked partners. Correlation aside, the last 12 months split them widely, with WBD ahead by 214.2 points (+137.7% versus -76.5%). One caveat on sizing: WLDS is 8.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
WBD vs WLDS: side by side
| WBD (Warner Bros. Discovery) | WLDS (Wearable Devices Ltd.) | |
|---|---|---|
| 1-year return | +137.7% | -76.5% |
| 5-year return | +3.7% | n/a |
| Volatility (ann.) | 54.7% | 475.5% |
| Beta vs S&P 500 | 1.19 | 3.22 |
| Max drawdown (3Y) | -48.9% | -99.8% |
| Market cap | $72.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | WBD | WLDS |
|---|---|---|
| 2022 | -59.7% | – |
| 2023 | +20.0% | -21.1% |
| 2024 | -7.1% | -68.3% |
| 2025 | +172.7% | -86.9% |
| 2026 | +0.2% | -77.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WBD and WLDS good diversifiers for each other?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between WBD and WLDS?
As of 2026-08-27, the correlation of weekly returns between WBD and WLDS is 0.56 over 3 years, 0.83 over 1 year and 0.48 over 5 years.
Is WLDS a good diversifier for WBD?
Somewhat, no more. With 0.56 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.56 mean?
A reading of 0.56 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/wbd-vs-wlds.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/wbd-vs-wlds/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: WBD correlations · WLDS correlations
