WEC vs WM: Correlation
WEC Energy Group (WEC) and Waste Management (WM) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WEC and WM?
On 3 years of weekly data the WEC/WM correlation comes out at 0.38, moderate. Recent behaviour matches the longer record: 0.43 over 1 year against 0.38 over 3. The 5-year figure is 0.47, and annualized covariance runs at 116.0 %².
Among the 44 assets we track against WEC, WM ranks #31 by 3-year correlation. Twelve-month performance is nearly a tie, at +2.1% for WEC and -2.0% for WM. Across three years, the rolling one-year figure varied moderately, from 0.15 to 0.60.
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.
WEC vs WM: side by side
| WEC (WEC Energy Group) | WM (Waste Management) | |
|---|---|---|
| 1-year return | +2.1% | -2.0% |
| 5-year return | +32.7% | +51.8% |
| Volatility (ann.) | 16.9% | 18.3% |
| Beta vs S&P 500 | 0.02 | 0.07 |
| Max drawdown (3Y) | -11.6% | -18.1% |
| Market cap | $34.6B | $87.0B |
| P/E (trailing) | 20.6 | 30.8 |
| Dividend yield | 3.43% | 1.60% |
| Sector / category | Utilities | Industrials |
Year-by-year returns
| Year | WEC | WM |
|---|---|---|
| 2022 | -0.5% | -4.5% |
| 2023 | -7.0% | +16.2% |
| 2024 | +16.1% | +14.3% |
| 2025 | +16.0% | +10.5% |
| 2026 | +3.4% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WEC and WM good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between WEC and WM?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.43 over the last year and 0.47 over 5 years.
Is WM a good diversifier for WEC?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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/wec-vs-wm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/wec-vs-wm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: WEC correlations · WM correlations
