WAB vs. ERIE

Last updated Jun 3, 2026

WAB (Westinghouse Air Brake Technologies Corporation) and ERIE (Erie Indemnity Company) are both stocks. WAB operates in Railroads (Industrials), while ERIE operates in Insurance Brokers (Financial Services). Over the past 10 years, WAB returned 13.86%/yr vs 10.09%/yr for ERIE. At a 0.25 correlation, their price movements are largely independent.

Performance

WAB vs. ERIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westinghouse Air Brake Technologies Corporation (WAB) and Erie Indemnity Company (ERIE). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WAB achieves a 24.22% return, which is significantly higher than ERIE's -26.80% return. Over the past 10 years, WAB has outperformed ERIE with an annualized return of 13.86%, while ERIE has yielded a comparatively lower 10.09% annualized return.

WAB

• 1D: 3.32%
• 1M: -0.04%
• YTD: 24.22%
• 6M: 27.24%
• 1Y: 31.77%
• 3Y*: 39.99%
• 5Y*: 26.90%
• 10Y*: 13.86%

ERIE

• 1D: -1.92%
• 1M: -3.45%
• YTD: -26.80%
• 6M: -29.10%
• 1Y: -41.18%
• 3Y*: 0.03%
• 5Y*: 2.93%
• 10Y*: 10.09%

*Multi-year figures are annualized to reflect compound growth (CAGR)

WAB vs. ERIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WAB Westinghouse Air Brake Technologies Corporation	24.22%	13.15%	50.14%	27.96%	9.07%	26.53%	-5.23%	11.46%	-13.26%	-1.36%
ERIE Erie Indemnity Company	-26.80%	-29.40%	24.67%	37.35%	32.03%	-19.98%	52.39%	27.08%	12.54%	11.23%

Correlation

The correlation between WAB and ERIE is 0.19, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.19
Correlation (3Y) Calculated over the trailing 3-year period	0.23
Correlation (5Y) Calculated over the trailing 5-year period	0.32
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Oct 3, 1995	0.25

The correlation between WAB and ERIE shifts across timeframes, from 0.19 (1 year) to 0.32 (5 years), reflecting how their relationship changes across market environments.

Fundamentals

EPS WAB : $7.07 ERIE : $14.49
PE Ratio WAB : 37.39 ERIE : 14.32
PEG Ratio WAB : 1.58 ERIE : 0.74
PS Ratio WAB : 3.93 ERIE : 1.89
Total Revenue (TTM) WAB : $11.51B ERIE : $4.33B
Gross Profit (TTM) WAB : $3.89B ERIE : $784.17M
EBITDA (TTM) WAB : $2.33B ERIE : $715.87M

Return for Risk

WAB vs. ERIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

WAB

WAB Risk / Return Rank: 75
WAB Sharpe Ratio Rank: 79
WAB Sortino Ratio Rank: 74
WAB Omega Ratio Rank: 71
WAB Calmar Ratio Rank: 77
WAB Martin Ratio Rank: 76

ERIE

ERIE Risk / Return Rank: 2
ERIE Sharpe Ratio Rank: 1
ERIE Sortino Ratio Rank: 2
ERIE Omega Ratio Rank: 3
ERIE Calmar Ratio Rank: 3
ERIE Martin Ratio Rank: 2

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

WAB vs. ERIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westinghouse Air Brake Technologies Corporation (WAB) and Erie Indemnity Company (ERIE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	WAB	ERIE	Difference
Sharpe ratio Return per unit of total volatility	1.35	-1.38	+2.73
Sortino ratio Return per unit of downside risk	1.99	-2.02	+4.01
Omega ratio Gain probability vs. loss probability	1.24	0.76	+0.48
Calmar ratio Return relative to maximum drawdown	2.36	-0.95	+3.31
Martin ratio Return relative to average drawdown	5.25	-1.78	+7.04
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WAB vs. ERIE - Sharpe Ratio Comparison

The current WAB Sharpe Ratio is 1.35, which is higher than the ERIE Sharpe Ratio of -1.38. The chart below compares the historical Sharpe Ratios of WAB and ERIE, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	WAB	ERIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.35	-1.38	+2.73
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.05	0.10	+0.95
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.35	+0.10
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.23	+0.12

Drawdowns

WAB vs. ERIE - Drawdown Comparison

The maximum WAB drawdown since its inception was -71.85%, smaller than the maximum ERIE drawdown of -78.28%. Use the drawdown chart below to compare losses from any high point for WAB and ERIE.

Drawdown Indicators

	WAB	ERIE	Difference
Max Drawdown Largest peak-to-trough decline	-71.85%	-78.28%	+6.43%
Max Drawdown (1Y) Largest decline over 1 year	-13.29%	-43.08%	+29.79%
Max Drawdown (3Y) Largest decline over 3 years	-23.55%	-60.81%	+37.26%
Max Drawdown (5Y) Largest decline over 5 years	-23.55%	-60.81%	+37.26%
Max Drawdown (10Y) Largest decline over 10 years	-64.08%	-60.81%	-3.27%
Current Drawdown Current decline from peak	-2.25%	-60.81%	+58.56%
Average Drawdown Average peak-to-trough decline	-23.98%	-33.55%	+9.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.98%	22.97%	-16.99%

Volatility

WAB vs. ERIE - Volatility Comparison

The current volatility for Westinghouse Air Brake Technologies Corporation (WAB) is 7.36%, while Erie Indemnity Company (ERIE) has a volatility of 9.20%. This indicates that WAB experiences smaller price fluctuations and is considered to be less risky than ERIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WAB	ERIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.36%	9.20%	-1.84%
Volatility (6M) Calculated over the trailing 6-month period	17.96%	23.06%	-5.10%
Volatility (1Y) Calculated over the trailing 1-year period	23.62%	29.99%	-6.37%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.83%	29.20%	-3.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	31.34%	29.12%	+2.22%

Dividends

WAB vs. ERIE - Dividend Comparison

WAB's dividend yield for the trailing twelve months is around 0.42%, less than ERIE's 2.72% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ERIE Erie Indemnity Company	2.72%	1.90%	1.24%	1.42%	1.79%	2.15%	2.39%	2.17%	2.52%	2.57%	1.95%	3.61%
WAB Westinghouse Air Brake Technologies Corporation	0.42%	0.47%	0.42%	0.54%	0.60%	0.52%	0.66%	0.62%	0.68%	0.54%	0.43%	0.39%

Financials

WAB vs. ERIE - Profitability Comparison

The chart below illustrates the profitability comparison between Westinghouse Air Brake Technologies Corporation and Erie Indemnity Company over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WAB - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Westinghouse Air Brake Technologies Corporation reported a gross profit of 1.06B and revenue of 2.95B. Therefore, the gross margin over that period was 36.0%.

ERIE - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Erie Indemnity Company reported a gross profit of 0.00 and revenue of 1.01B. Therefore, the gross margin over that period was 0.0%.

WAB - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Westinghouse Air Brake Technologies Corporation reported an operating income of 517.00M and revenue of 2.95B, resulting in an operating margin of 17.5%.

ERIE - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Erie Indemnity Company reported an operating income of 166.79M and revenue of 1.01B, resulting in an operating margin of 16.5%.

WAB - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Westinghouse Air Brake Technologies Corporation reported a net income of 362.00M and revenue of 2.95B, resulting in a net margin of 12.3%.

ERIE - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Erie Indemnity Company reported a net income of 150.47M and revenue of 1.01B, resulting in a net margin of 14.9%.

Frequently Asked Questions

Can I hold both WAB and ERIE in my portfolio?

WAB and ERIE have a correlation of 0.19, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WAB or ERIE?

ERIE has higher volatility (9.20%) compared to WAB (7.36%). In terms of maximum drawdown, WAB dropped -71.85% vs ERIE's -78.28%.

Which has better risk-adjusted returns?

WAB currently has the higher Sharpe Ratio (1.35 vs -1.38), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.