WCN vs. WM
WCN (Waste Connections, Inc.) and WM (Waste Management, Inc.) are both stocks. Both operate in the Waste Management industry within the Industrials sector. Over the past 10 years, WCN returned 14.05%/yr vs 15.19%/yr for WM. At a 0.48 correlation, their price movements are largely independent.
Performance
WCN vs. WM - Performance Comparison
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Returns By Period
In the year-to-date period, WCN achieves a -8.68% return, which is significantly lower than WM's 0.43% return. Over the past 10 years, WCN has underperformed WM with an annualized return of 14.05%, while WM has yielded a comparatively higher 15.19% annualized return.
WCN
- 1D
- 3.92%
- 1M
- 2.40%
- YTD
- -8.68%
- 6M
- -9.88%
- 1Y
- -14.33%
- 3Y*
- 6.20%
- 5Y*
- 6.60%
- 10Y*
- 14.05%
WM
- 1D
- 2.59%
- 1M
- 0.87%
- YTD
- 0.43%
- 6M
- 0.15%
- 1Y
- -5.27%
- 3Y*
- 11.43%
- 5Y*
- 11.30%
- 10Y*
- 15.19%
WCN vs. WM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
WCN Waste Connections, Inc. | -8.68% | 2.92% | 15.72% | 13.47% | -2.02% | 33.80% | 13.86% | 23.19% | 5.47% | 36.47% |
WM Waste Management, Inc. | 0.43% | 10.50% | 14.28% | 16.20% | -4.49% | 43.82% | 5.46% | 30.45% | 5.32% | 24.46% |
Correlation
The correlation between WCN and WM is 0.75, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.75 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.72 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.70 |
Correlation (All Time) Calculated using the full available price history since May 22, 1998 | 0.48 |
Over the past year, WCN and WM have become more correlated (0.75) than their long-term average of 0.48, meaning their price movements have been converging.
Fundamentals
WCN:
$5.48
WM:
$6.91
WCN:
29.11
WM:
31.67
WCN:
1.38
WM:
2.59
WCN:
3.19
WM:
3.48
WCN:
$9.65B
WM:
$25.41B
WCN:
$2.77B
WM:
$5.61B
WCN:
$2.68B
WM:
$6.96B
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Return for Risk
WCN vs. WM — Risk / Return Rank
WCN
WM
WCN vs. WM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Waste Connections, Inc. (WCN) and Waste Management, Inc. (WM). 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.
| WCN | WM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.56 | ||
| Omega ratioGain probability vs. loss probability | 0.90 | 0.97 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | -0.66 | -0.32 | -0.35 |
| Martin ratioReturn relative to average drawdown | -1.21 | -0.68 | -0.52 |
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Drawdowns
WCN vs. WM - Drawdown Comparison
The maximum WCN drawdown since its inception was -68.85%, smaller than the maximum WM drawdown of -77.85%. Use the drawdown chart below to compare losses from any high point for WCN and WM.
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Drawdown Indicators
| WCN | WM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.85% | -77.85% | +9.00% |
Max Drawdown (1Y)Largest decline over 1 year | -21.69% | -16.70% | -4.99% |
Max Drawdown (3Y)Largest decline over 3 years | -24.75% | -18.14% | -6.61% |
Max Drawdown (5Y)Largest decline over 5 years | -24.75% | -18.14% | -6.61% |
Max Drawdown (10Y)Largest decline over 10 years | -31.59% | -30.07% | -1.52% |
Current DrawdownCurrent decline from peak | -19.48% | -10.49% | -8.99% |
Average DrawdownAverage peak-to-trough decline | -8.41% | -17.68% | +9.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 11.88% | 7.73% | +4.15% |
Volatility
WCN vs. WM - Volatility Comparison
Waste Connections, Inc. (WCN) and Waste Management, Inc. (WM) have volatilities of 6.82% and 6.58%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| WCN | WM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.82% | 6.58% | +0.24% |
Volatility (6M)Calculated over the trailing 6-month period | 18.38% | 14.22% | +4.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 22.08% | 19.24% | +2.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.43% | 18.65% | +0.78% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.75% | 19.57% | +0.18% |
Dividends
WCN vs. WM - Dividend Comparison
WCN's dividend yield for the trailing twelve months is around 0.86%, less than WM's 1.62% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
WCN Waste Connections, Inc. | 0.86% | 0.74% | 0.68% | 0.70% | 0.71% | 0.62% | 0.74% | 0.73% | 0.78% | 0.70% | 1.20% | 1.86% |
WM Waste Management, Inc. | 1.62% | 1.50% | 1.49% | 1.56% | 1.66% | 1.38% | 1.85% | 1.80% | 2.09% | 1.97% | 2.31% | 2.89% |
Financials
WCN vs. WM - Financials Comparison
This section allows you to compare key financial metrics between Waste Connections, Inc. and Waste Management, 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
WCN vs. WM - Profitability Comparison
WCN - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported a gross profit of 0.00 and revenue of 2.37B. Therefore, the gross margin over that period was 0.0%.
WM - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Waste Management, Inc. reported a gross profit of 0.00 and revenue of 6.23B. Therefore, the gross margin over that period was 0.0%.
WCN - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported an operating income of 364.08M and revenue of 2.37B, resulting in an operating margin of 15.4%.
WM - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Waste Management, Inc. reported an operating income of 1.11B and revenue of 6.23B, resulting in an operating margin of 17.9%.
WCN - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Waste Connections, Inc. reported a net income of 219.34M and revenue of 2.37B, resulting in a net margin of 9.3%.
WM - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Waste Management, Inc. reported a net income of 723.00M and revenue of 6.23B, resulting in a net margin of 11.6%.
Frequently Asked Questions
WCN and WM have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
WCN has higher volatility (6.82%) compared to WM (6.58%). In terms of maximum drawdown, WCN dropped -68.85% vs WM's -77.85%.
WM currently has the higher Sharpe Ratio (-0.28 vs -0.65), 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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