WBTN vs XPON: Correlation
WEBTOON Entertainment Inc. (WBTN) and Expion360 Inc. (XPON) show a moderate relationship: their 3-year correlation of weekly returns is 0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WBTN and XPON?
Over the past 3 years, WBTN and XPON moved with a correlation of 0.42, which is moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.42). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 5388.5 %².
Among the 29 assets we track against WBTN, XPON ranks #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months WBTN outperformed by 25.6 percentage points (-34.4% for WBTN against -60.0% for XPON). One caveat on sizing: XPON is 1.8 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.
WBTN vs XPON: side by side
| WBTN (WEBTOON Entertainment Inc.) | XPON (Expion360 Inc.) | |
|---|---|---|
| 1-year return | -34.4% | -60.0% |
| 5-year return | n/a | -99.9% |
| Volatility (ann.) | 80.5% | 144.0% |
| Beta vs S&P 500 | 1.69 | 1.37 |
| Max drawdown (3Y) | -70.6% | -100.0% |
| Market cap | $1.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | WBTN | XPON |
|---|---|---|
| 2023 | – | +134.3% |
| 2024 | – | -99.6% |
| 2025 | -4.1% | -71.6% |
| 2026 | -23.6% | -2.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WBTN and XPON good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between WBTN and XPON?
The WBTN/XPON correlation stands at 0.42 on a 3-year window (1 year: 0.28, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is XPON a good diversifier for WBTN?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 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.
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Related comparisons
Hubs: WBTN correlations · XPON correlations
