Waste Management, Inc. (WM) — Stock Correlations & Overview
Over the past year, WM has moved most closely with RSG, WCN, EASY. Explore the stocks most correlated and inversely correlated with WM below, along with its price, financials, and company profile.
Stocks correlated with WM
Correlation of daily returns. Higher positive values move with WM; negative values move opposite it. Informational only, not investment advice.
Most correlated with WM
| Symbol | Company | Correlation |
|---|---|---|
| RSG | Republic Services Inc.REFUSE SYSTEMS | 0.82 |
| WCN | Waste Connections, Inc.REFUSE SYSTEMS | 0.72 |
| EASY | Liberty One Defensive Dividend Growth ETF | 0.66 |
| SPLV | Invesco S&P 500 Low Volatility ETF | 0.62 |
| HUSV | First Trust Horizon Managed Volatility Domestic ETF | 0.58 |
Most inversely correlated with WM
| Symbol | Company | Correlation |
|---|---|---|
| TSXU | Direxion Daily Semiconductors Top 5 Bull 2X ETF | -0.48 |
| CHAT | Roundhill Generative AI & Technology ETF | -0.46 |
| WTAI | WisdomTree Artificial Intelligence and Innovation Fund | -0.46 |
| CHPX | Global X AI Semiconductor & Quantum ETF | -0.46 |
| USD | ProShares Ultra Semiconductors | -0.46 |
Frequently asked questions about WM correlations
- Which stocks are most correlated with WM?
- Based on one year of daily returns, the stocks most correlated with Waste Management, Inc. (WM) are RSG (0.82), WCN (0.72) and EASY (0.66). A correlation near 1.00 means the two stocks' daily moves have tracked each other closely over the period.
- Which stocks are inversely correlated with WM?
- Over the past year, the stocks most inversely correlated with Waste Management, Inc. (WM) are TSXU (-0.48), CHAT (-0.46) and WTAI (-0.46). A negative correlation means the two stocks have tended to move in opposite directions.
- What does a correlation of 0.8 mean for a stock?
- Correlation measures how closely two stocks' daily returns move together, on a scale from -1 to 1. At 0.8, the two stocks have moved in the same direction on most days — though not by identical amounts. A value near 0 means their moves have been unrelated, and a negative value means they have tended to move in opposite directions. Correlation reflects past behavior and can change over time.
- How are these WM correlations calculated?
- We compute the correlation of daily returns between WM and roughly 9,000 other US-listed stocks and ETFs over the trailing one-year window, then rank the strongest positive and negative relationships. The data is refreshed monthly. It is informational and educational only — not investment advice.
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