WHLR vs ZBH: Correlation
Measured on weekly returns over the past three years, Wheeler Real Estate Investment Trust, Inc. (WHLR) and Zimmer Biomet (ZBH) carry a correlation of -0.21, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WHLR and ZBH?
On 3 years of weekly data the WHLR/ZBH correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.14) sits close to the 3-year figure. The 5-year figure is -0.15, and annualized covariance runs at -2845.0 %².
Within WHLR's tracked universe of 50 assets, ZBH comes in at #41 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ZBH ahead by 94.1 points (-100.0% versus -5.9%). Note the risk asymmetry: WHLR runs 21.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
WHLR vs ZBH: side by side
| WHLR (Wheeler Real Estate Investment Trust, Inc.) | ZBH (Zimmer Biomet) | |
|---|---|---|
| 1-year return | -100.0% | -5.9% |
| 5-year return | -100.0% | -28.6% |
| Volatility (ann.) | 545.0% | 24.9% |
| Beta vs S&P 500 | -5.84 | 0.51 |
| Max drawdown (3Y) | -100.0% | -38.8% |
| Market cap | – | $19.0B |
| P/E (trailing) | 0.0 | 24.6 |
| Dividend yield | 0.00% | 0.95% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | WHLR | ZBH |
|---|---|---|
| 2022 | -28.0% | +4.2% |
| 2023 | -98.4% | -3.8% |
| 2024 | -98.4% | -12.5% |
| 2025 | -100.0% | -14.0% |
| 2026 | -99.9% | +11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WHLR and ZBH good diversifiers for each other?
Yes. With a correlation of -0.21, WHLR and ZBH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between WHLR and ZBH?
The WHLR/ZBH correlation stands at -0.21 on a 3-year window (1 year: -0.14, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is ZBH a good diversifier for WHLR?
Yes. With a correlation of -0.21, WHLR and ZBH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 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/whlr-vs-zbh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/whlr-vs-zbh/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: WHLR correlations · ZBH correlations
