WVE vs YCBD: Correlation
Measured on weekly returns over the past three years, Wave Life Sciences, Inc. (WVE) and cbdMD, Inc. (YCBD) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are WVE and YCBD?
Across a 3-year window, the weekly returns of WVE and YCBD correlate at 0.38, moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.38). Stretching to 5 years gives 0.18, with an annualized covariance of 5337.5 %².
Within WVE's tracked universe of 14 assets, YCBD comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with YCBD ahead by 20.3 points (-48.8% versus -28.5%).
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.
WVE vs YCBD: side by side
| WVE (Wave Life Sciences, Inc.) | YCBD (cbdMD, Inc.) | |
|---|---|---|
| 1-year return | -48.8% | -28.5% |
| 5-year return | -15.0% | -99.9% |
| Volatility (ann.) | 113.5% | 122.3% |
| Beta vs S&P 500 | 1.84 | 0.80 |
| Max drawdown (3Y) | -76.3% | -95.8% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | 2.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | WVE | YCBD |
|---|---|---|
| 2022 | +122.9% | -79.0% |
| 2023 | -27.9% | -89.8% |
| 2024 | +145.0% | -63.9% |
| 2025 | +37.4% | -55.0% |
| 2026 | -69.6% | -63.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are WVE and YCBD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between WVE and YCBD?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.59 over the last year and 0.18 over 5 years.
Is YCBD a good diversifier for WVE?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 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/wve-vs-ycbd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/wve-vs-ycbd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: WVE correlations · YCBD correlations
