WBD vs. T
WBD (Warner Bros. Discovery, Inc.) and T (AT&T Inc.) are both stocks. Both are in the Communication Services sector — WBD in Entertainment, T in Telecom Services. Over the past 10 years, WBD returned -0.05%/yr vs 2.52%/yr for T. Their 0.33 correlation means their historical movements had little consistent relationship.
Performance
WBD vs. T - Performance Comparison
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Returns By Period
In the year-to-date period, WBD achieves a -8.74% return, which is significantly lower than T's -3.04% return. Over the past 10 years, WBD has underperformed T with an annualized return of -0.05%, while T has yielded a comparatively higher 2.52% annualized return.
WBD
- 1D
- 3.26%
- 1M
- -0.68%
- 6M
- -4.50%
- YTD
- -8.74%
- 1Y
- 104.35%
- 3Y*
- 26.90%
- 5Y*
- -1.94%
- 10Y*
- -0.05%
- ALL TIME*
- 6.17%
T
- 1D
- 0.17%
- 1M
- 14.48%
- 6M
- -9.17%
- YTD
- -3.04%
- 1Y
- -12.27%
- 3Y*
- 23.94%
- 5Y*
- 7.92%
- 10Y*
- 2.52%
- ALL TIME*
- 9.45%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $2.13B | $1.85B | $1.42B | |
| $697.83M | $615.27M | $582.00M |
WBD vs. T - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WBD Warner Bros. Discovery, Inc. | -8.74% | 172.66% | -7.12% | 20.04% | -59.73% | -21.77% | -8.09% | 32.34% | 10.55% | -18.35% |
T AT&T Inc. | -3.04% | 13.97% | 44.08% | -2.74% | 5.76% | -8.09% | -21.37% | 45.55% | -22.25% | -4.01% |
Correlation
The correlation between WBD and T is -0.14, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | -0.14 |
Correlation (3Y) Balances recent behavior with more history. | 0.08 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.25 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.31 |
Correlation (All Time) Calculated using the full available price history since Jul 8, 2005 | 0.33 |
The correlation between WBD and T shifts across timeframes, from -0.14 (1 year) to 0.33 (all time), reflecting how their relationship changes across market environments.
Fundamentals
WBD:
$65.94B
T:
$159.44B
WBD:
-$0.86
T:
$3.03
WBD:
1.77
T:
1.29
WBD:
2.01
T:
1.28
WBD:
$37.21B
T:
$127.24B
WBD:
$15.43B
T:
$112.60B
WBD:
$9.00B
T:
$49.53B
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Return for Risk
WBD vs. T — Risk / Return Rank
WBD
T
WBD vs. T - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Warner Bros. Discovery, Inc. (WBD) and AT&T Inc. (T). 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 | T | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.65 | ||
| Sortino ratioReturn per unit of downside risk | +4.60 | ||
| Omega ratioGain probability vs. loss probability | 1.54 | 0.94 | +0.60 |
| Calmar ratioReturn relative to maximum drawdown | 6.17 | -0.39 | +6.56 |
| Martin ratioReturn relative to average drawdown | 12.72 | -0.84 | +13.56 |
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Drawdowns
WBD vs. T - Drawdown Comparison
The maximum WBD drawdown since its inception was -91.32%, which is greater than T's maximum drawdown of -64.15%. Use the drawdown chart below to compare losses from any high point for WBD and T.
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Drawdown Indicators
| WBD | T | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -91.32% | -64.15% | -27.17% |
Max Drawdown (1Y)Largest decline over 1 year | -16.24% | -28.89% | +12.65% |
Max Drawdown (3Y)Largest decline over 3 years | -53.63% | -28.89% | -24.74% |
Max Drawdown (5Y)Largest decline over 5 years | -78.48% | -32.01% | -46.47% |
Max Drawdown (10Y)Largest decline over 10 years | -91.32% | -42.35% | -48.97% |
Current DrawdownCurrent decline from peak | -65.96% | -18.19% | -47.77% |
Average DrawdownAverage peak-to-trough decline | -37.31% | -15.74% | -21.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.10% | 13.37% | -5.27% |
Volatility
WBD vs. T - Volatility Comparison
The current volatility for Warner Bros. Discovery, Inc. (WBD) is 6.99%, while AT&T Inc. (T) has a volatility of 8.75%. This indicates that WBD experiences smaller price fluctuations and is considered to be less risky than T based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WBD | T | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.99% | 8.75% | -1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 11.81% | 20.28% | -8.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 45.61% | 24.78% | +20.83% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 52.63% | 24.61% | +28.02% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.10% | 24.02% | +23.08% |
Dividends
WBD vs. T - Dividend Comparison
WBD has not paid dividends to shareholders, while T's dividend yield for the trailing twelve months is around 4.77%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
T AT&T Inc. | 4.77% | 4.47% | 4.87% | 6.62% | 6.66% | 8.46% | 7.23% | 5.22% | 7.01% | 5.04% | 4.51% | 5.46% |
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. T - Financials Comparison
This section allows you to compare key financial metrics between Warner Bros. Discovery, Inc. and AT&T Inc.. 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. T - Profitability Comparison
WBD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 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%.
T - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Aug 2026, AT&T Inc. reported a gross profit of 25.25B and revenue of 31.56B. Therefore, the gross margin over that period was 80.0%.
WBD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 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%.
T - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Aug 2026, AT&T Inc. reported an operating income of 7.04B and revenue of 31.56B, resulting in an operating margin of 22.3%.
WBD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 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%.
T - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Aug 2026, AT&T Inc. reported a net income of 4.59B and revenue of 31.56B, resulting in a net margin of 14.6%.
Frequently Asked Questions
WBD and T have a correlation of -0.14, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
T has higher volatility (8.75%) compared to WBD (6.99%). In terms of maximum drawdown, WBD dropped -91.32% vs T's -64.15%.
WBD currently has the higher Sharpe Ratio (2.20 vs -0.45), 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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