WBD vs. PG
WBD (Warner Bros. Discovery, Inc.) and PG (The Procter & Gamble Company) are both stocks. WBD operates in Entertainment (Communication Services), while PG operates in Household & Personal Products (Consumer Defensive). Over the past 10 years, WBD returned 0.50%/yr vs 8.96%/yr for PG. At a 0.22 correlation, their price movements are largely independent.
Performance
WBD vs. PG - Performance Comparison
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Returns By Period
In the year-to-date period, WBD achieves a -6.38% return, which is significantly lower than PG's 5.93% return. Over the past 10 years, WBD has underperformed PG with an annualized return of 0.50%, while PG has yielded a comparatively higher 8.96% annualized return.
WBD
- 1D
- 0.45%
- 1M
- -0.00%
- YTD
- -6.38%
- 6M
- -10.01%
- 1Y
- 168.99%
- 3Y*
- 25.07%
- 5Y*
- -2.61%
- 10Y*
- 0.50%
PG
- 1D
- 0.86%
- 1M
- 5.68%
- YTD
- 5.93%
- 6M
- 6.28%
- 1Y
- -3.97%
- 3Y*
- 3.69%
- 5Y*
- 4.73%
- 10Y*
- 8.96%
WBD vs. PG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WBD Warner Bros. Discovery, Inc. | -6.38% | 172.66% | -7.12% | 20.04% | -59.73% | -21.77% | -8.09% | 32.34% | 10.55% | -18.35% |
PG The Procter & Gamble Company | 5.93% | -12.26% | 17.25% | -0.86% | -5.05% | 20.52% | 14.15% | 39.70% | 3.57% | 12.69% |
Correlation
The correlation between WBD and PG is -0.07, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.07 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.05 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.11 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.11 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2005 | 0.22 |
The correlation between WBD and PG shifts across timeframes, from -0.07 (1 year) to 0.22 (all time), reflecting how their relationship changes across market environments.
Fundamentals
WBD:
$67.23B
PG:
$361.53B
WBD:
-$0.86
PG:
$5.23
WBD:
1.81
PG:
4.20
WBD:
2.06
PG:
6.70
WBD:
$37.21B
PG:
$86.72B
WBD:
$15.43B
PG:
$43.64B
WBD:
$9.00B
PG:
$22.63B
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Return for Risk
WBD vs. PG — Risk / Return Rank
WBD
PG
WBD vs. PG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Warner Bros. Discovery, Inc. (WBD) and The Procter & Gamble Company (PG). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| WBD | PG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.87 | ||
| Sortino ratioReturn per unit of downside risk | +5.82 | ||
| Omega ratioGain probability vs. loss probability | 1.76 | 0.97 | +0.79 |
| Calmar ratioReturn relative to maximum drawdown | 7.82 | -0.37 | +8.18 |
| Martin ratioReturn relative to average drawdown | 22.23 | -0.68 | +22.91 |
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Drawdowns
WBD vs. PG - Drawdown Comparison
The maximum WBD drawdown since its inception was -91.32%, which is greater than PG's maximum drawdown of -54.25%. Use the drawdown chart below to compare losses from any high point for WBD and PG.
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Drawdown Indicators
| WBD | PG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.32% | -54.25% | -37.07% |
Max Drawdown (1Y)Largest decline over 1 year | -21.31% | -15.52% | -5.79% |
Max Drawdown (3Y)Largest decline over 3 years | -53.63% | -21.15% | -32.48% |
Max Drawdown (5Y)Largest decline over 5 years | -78.49% | -23.77% | -54.72% |
Max Drawdown (10Y)Largest decline over 10 years | -91.32% | -23.77% | -67.55% |
Current DrawdownCurrent decline from peak | -65.08% | -13.29% | -51.79% |
Average DrawdownAverage peak-to-trough decline | -37.14% | -12.16% | -24.98% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.48% | 8.80% | -1.32% |
Volatility
WBD vs. PG - Volatility Comparison
The current volatility for Warner Bros. Discovery, Inc. (WBD) is 4.77%, while The Procter & Gamble Company (PG) has a volatility of 6.99%. This indicates that WBD experiences smaller price fluctuations and is considered to be less risky than PG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WBD | PG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.77% | 6.99% | -2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 11.46% | 15.01% | -3.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 46.82% | 18.78% | +28.04% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.71% | 17.82% | +34.89% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.14% | 19.05% | +28.09% |
Dividends
WBD vs. PG - Dividend Comparison
WBD has not paid dividends to shareholders, while PG's dividend yield for the trailing twelve months is around 2.85%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
PG The Procter & Gamble Company | 2.85% | 2.91% | 2.36% | 2.55% | 2.38% | 2.08% | 2.24% | 2.37% | 3.09% | 2.98% | 3.18% | 3.31% |
WBD Warner Bros. Discovery, Inc. | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials
WBD vs. PG - Financials Comparison
This section allows you to compare key financial metrics between Warner Bros. Discovery, Inc. and The Procter & Gamble Company. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
WBD vs. PG - Profitability Comparison
WBD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Warner Bros. Discovery, Inc. reported a gross profit of 4.25B and revenue of 8.89B. Therefore, the gross margin over that period was 47.8%.
PG - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, The Procter & Gamble Company reported a gross profit of 10.51B and revenue of 21.24B. Therefore, the gross margin over that period was 49.5%.
WBD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Warner Bros. Discovery, Inc. reported an operating income of -2.47B and revenue of 8.89B, resulting in an operating margin of -27.8%.
PG - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, The Procter & Gamble Company reported an operating income of 4.58B and revenue of 21.24B, resulting in an operating margin of 21.6%.
WBD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Warner Bros. Discovery, Inc. reported a net income of -3.33B and revenue of 8.89B, resulting in a net margin of -37.5%.
PG - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, The Procter & Gamble Company reported a net income of 18.50M and revenue of 21.24B, resulting in a net margin of 0.1%.
Frequently Asked Questions
WBD and PG have a correlation of -0.07, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PG has higher volatility (6.99%) compared to WBD (4.77%). In terms of maximum drawdown, WBD dropped -91.32% vs PG's -54.25%.
WBD currently has the higher Sharpe Ratio (3.57 vs -0.30), 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.
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