WM vs WTRG: Correlation
How closely do Waste Management (WM) and Essential Utilities, Inc. (WTRG) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WM and WTRG?
Across a 3-year window, the weekly returns of WM and WTRG correlate at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.49 lands near the 3-year figure. Stretching to 5 years gives 0.45, with an annualized covariance of 143.2 %².
By 3-year correlation, WTRG places #9 of the 35 assets tracked against WM. The trailing year gives WTRG the advantage: -2.0% versus +5.6%, a 7.6-point spread.
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.
WM vs WTRG: side by side
| WM (Waste Management) | WTRG (Essential Utilities, Inc.) | |
|---|---|---|
| 1-year return | -2.0% | +5.6% |
| 5-year return | +51.8% | -5.2% |
| Volatility (ann.) | 18.3% | 19.6% |
| Beta vs S&P 500 | 0.07 | -0.04 |
| Max drawdown (3Y) | -18.1% | -17.9% |
| Market cap | $87.0B | $11.5B |
| P/E (trailing) | 30.8 | 20.9 |
| Dividend yield | 1.60% | 3.36% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | WM | WTRG |
|---|---|---|
| 2022 | -4.5% | -8.9% |
| 2023 | +16.2% | -19.4% |
| 2024 | +14.3% | +0.5% |
| 2025 | +10.5% | +9.4% |
| 2026 | -0.1% | +8.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WM and WTRG good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between WM and WTRG?
The WM/WTRG correlation stands at 0.40 on a 3-year window (1 year: 0.49, 5 years: 0.45), computed from weekly returns as of 2026-08-27.
Is WTRG a good diversifier for WM?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 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/wm-vs-wtrg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/wm-vs-wtrg/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: WM correlations · WTRG correlations
