WLK vs. IEX

Last updated Jun 3, 2026

WLK (Westlake Corporation) and IEX (IDEX Corporation) are both stocks. WLK operates in Specialty Chemicals (Basic Materials), while IEX operates in Specialty Industrial Machinery (Industrials). Over the past 10 years, WLK returned 8.45%/yr vs 11.05%/yr for IEX. A 0.52 correlation means they provide meaningful diversification when combined.

Performance

WLK vs. IEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Westlake Corporation (WLK) and IDEX Corporation (IEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, WLK achieves a 18.73% return, which is significantly lower than IEX's 20.08% return. Over the past 10 years, WLK has underperformed IEX with an annualized return of 8.45%, while IEX has yielded a comparatively higher 11.05% annualized return.

WLK

• 1D: 0.52%
• 1M: -24.04%
• YTD: 18.73%
• 6M: 31.81%
• 1Y: 27.64%
• 3Y*: -6.60%
• 5Y*: -2.14%
• 10Y*: 8.45%

IEX

• 1D: 2.19%
• 1M: -0.95%
• YTD: 20.08%
• 6M: 22.02%
• 1Y: 20.22%
• 3Y*: 1.97%
• 5Y*: 0.26%
• 10Y*: 11.05%

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

WLK vs. IEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
WLK Westlake Corporation	18.73%	-33.77%	-16.90%	38.23%	6.81%	20.53%	18.52%	7.72%	-37.27%	92.39%
IEX IDEX Corporation	20.08%	-13.69%	-2.35%	-3.80%	-2.22%	19.82%	17.22%	37.94%	-3.16%	48.53%

Correlation

The correlation between WLK and IEX is 0.46, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.46
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.47
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Aug 12, 2004	0.52

The correlation between WLK and IEX has been stable across timeframes, ranging from 0.46 to 0.52 - a consistent structural relationship.

Fundamentals

Market Cap WLK : $11.11B IEX : $15.78B
EPS WLK : -$12.75 IEX : $6.77
PS Ratio WLK : 1.02 IEX : 4.51
PB Ratio WLK : 1.30 IEX : 3.90
Total Revenue (TTM) WLK : $10.98B IEX : $3.53B
Gross Profit (TTM) WLK : $169.00M IEX : $1.57B
EBITDA (TTM) WLK : -$659.00M IEX : $885.40M

Return for Risk

WLK vs. IEX — Risk / Return Rank

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

WLK

WLK Risk / Return Rank: 57
WLK Sharpe Ratio Rank: 60
WLK Sortino Ratio Rank: 58
WLK Omega Ratio Rank: 53
WLK Calmar Ratio Rank: 55
WLK Martin Ratio Rank: 58

IEX

IEX Risk / Return Rank: 62
IEX Sharpe Ratio Rank: 65
IEX Sortino Ratio Rank: 59
IEX Omega Ratio Rank: 59
IEX Calmar Ratio Rank: 65
IEX Martin Ratio Rank: 62

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.

WLK vs. IEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Westlake Corporation (WLK) and IDEX Corporation (IEX). 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.

	WLK	IEX	Difference
Sharpe ratio Return per unit of total volatility	0.59	0.79	-0.20
Sortino ratio Return per unit of downside risk	1.20	1.24	-0.04
Omega ratio Gain probability vs. loss probability	1.13	1.16	-0.03
Calmar ratio Return relative to maximum drawdown	0.67	1.26	-0.58
Martin ratio Return relative to average drawdown	1.77	2.45	-0.68
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

WLK vs. IEX - Sharpe Ratio Comparison

The current WLK Sharpe Ratio is 0.59, which is comparable to the IEX Sharpe Ratio of 0.79. The chart below compares the historical Sharpe Ratios of WLK and IEX, 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

	WLK	IEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.59	0.79	-0.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.06	0.01	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.22	0.46	-0.24
Sharpe Ratio (All Time) Calculated using the full available price history	0.32	0.14	+0.18

Drawdowns

WLK vs. IEX - Drawdown Comparison

The maximum WLK drawdown since its inception was -75.16%, smaller than the maximum IEX drawdown of -81.60%. Use the drawdown chart below to compare losses from any high point for WLK and IEX.

Drawdown Indicators

	WLK	IEX	Difference
Max Drawdown Largest peak-to-trough decline	-75.16%	-81.60%	+6.44%
Max Drawdown (1Y) Largest decline over 1 year	-37.77%	-15.17%	-22.60%
Max Drawdown (3Y) Largest decline over 3 years	-64.20%	-34.60%	-29.60%
Max Drawdown (5Y) Largest decline over 5 years	-64.20%	-34.60%	-29.60%
Max Drawdown (10Y) Largest decline over 10 years	-75.16%	-35.52%	-39.64%
Current Drawdown Current decline from peak	-43.77%	-10.91%	-32.86%
Average Drawdown Average peak-to-trough decline	-26.20%	-11.44%	-14.76%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.42%	7.78%	+6.64%

Volatility

WLK vs. IEX - Volatility Comparison

Westlake Corporation (WLK) has a higher volatility of 13.02% compared to IDEX Corporation (IEX) at 5.63%. This indicates that WLK's price experiences larger fluctuations and is considered to be riskier than IEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	WLK	IEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.02%	5.63%	+7.39%
Volatility (6M) Calculated over the trailing 6-month period	33.02%	16.90%	+16.12%
Volatility (1Y) Calculated over the trailing 1-year period	47.19%	25.74%	+21.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	36.98%	24.01%	+12.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.38%	24.25%	+15.13%

Dividends

WLK vs. IEX - Dividend Comparison

WLK's dividend yield for the trailing twelve months is around 2.44%, more than IEX's 1.35% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IEX IDEX Corporation	1.35%	1.58%	1.29%	1.16%	1.02%	0.90%	1.00%	1.12%	1.31%	1.10%	1.49%	1.62%
WLK Westlake Corporation	2.44%	2.85%	1.79%	1.12%	1.28%	1.17%	1.31%	1.46%	1.39%	0.75%	1.33%	1.28%

Financials

WLK vs. IEX - Profitability Comparison

The chart below illustrates the profitability comparison between Westlake Corporation and IDEX Corporation over time, highlighting three key metrics: Gross Profit Margin, Operating Margin, and Net Profit Margin.

WLK - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, Westlake Corporation reported a gross profit of 112.00M and revenue of 2.65B. Therefore, the gross margin over that period was 4.2%.

IEX - Gross Margin

Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jun 2026, IDEX Corporation reported a gross profit of 398.10M and revenue of 886.90M. Therefore, the gross margin over that period was 44.9%.

WLK - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, Westlake Corporation reported an operating income of -172.00M and revenue of 2.65B, resulting in an operating margin of -6.5%.

IEX - Operating Margin

Operating margin is calculated as operating income divided by revenue. For the three months ending on Jun 2026, IDEX Corporation reported an operating income of 172.40M and revenue of 886.90M, resulting in an operating margin of 19.4%.

WLK - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, Westlake Corporation reported a net income of -169.00M and revenue of 2.65B, resulting in a net margin of -6.4%.

IEX - Net Margin

Net margin is calculated as net income divided by revenue. For the three months ending on Jun 2026, IDEX Corporation reported a net income of 120.00M and revenue of 886.90M, resulting in a net margin of 13.5%.

Frequently Asked Questions

Can I hold both WLK and IEX in my portfolio?

WLK and IEX have a correlation of 0.46, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, WLK or IEX?

WLK has higher volatility (13.02%) compared to IEX (5.63%). In terms of maximum drawdown, WLK dropped -75.16% vs IEX's -81.60%.

Which has better risk-adjusted returns?

IEX currently has the higher Sharpe Ratio (0.79 vs 0.59), 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.