Waste Connections Inc. vs Waste Management Inc.
WatchlistWCN / WMPrices through Oct 22, 2026
Why these are rivals: #1 and #3 by market value ($90B vs $42B) in Nasdaq's "Environmental Services" industry; SEC SIC 4953 / 4953 (same major group); #1 and #3 by market value ($90B vs $42B) with SEC SIC 4953 (Refuse Systems).
Rivals, but right now the price gap does not have a measured habit of closing, so there is no paper idea, whatever the gap.
- Mean reversion: ADF t-statistic of the spread: -2.09 (needs <= -2.873 (5% critical value))
Business leadership
WM is the larger business
Annual revenue reported to the SEC. Scale, not market share.
| Year | WCN | WM | Larger |
|---|---|---|---|
| 2025 | $9.5B | $25.2B | WM |
| 2024 | $8.9B | $22.1B | WM |
| 2023 | $8.0B | $20.4B | WM |
| 2022 | $7.2B | $19.7B | WM |
| 2021 | $6.2B | $17.9B | WM |
| 2020 | $5.4B | $15.2B | WM |
WM led in every year with figures for both. Market value: WCN $42.3B, WM $90.5B.
Stock leadership
WCN is ahead now
Measured against the pair's own last 252 trading days.
WCN leads WM by 0.74 standard deviations: +4.1% over its usual price ratio. 2 lead switches in the last year.
| Price change | 3 mo | 6 mo | 12 mo |
|---|---|---|---|
| WCN | +9.0% | +9.5% | +6.4% |
| WM | +0.1% | +2.7% | +11.3% |
Relationship
Not a measured twin today
Only these tests can make a pair tradable on paper.
- Pass
- Aligned sessions: 2521 (needs >= 254)
- Pass
- Co-movement: daily return correlation, 252 sessions: 0.74 (needs >= 0.60)
- Fail
- Mean reversion: ADF t-statistic of the spread: -2.09 (needs <= -2.873 (5% critical value))
- Pass
- Speed: half-life of the spread, sessions: 30.09 (needs <= 63)
- Data
- Both stocks current
The twins over two years
Prices side by side, and the gap between them
WCN Waste Connections Inc. WM Waste Management Inc.Price index, 100 = 2024-10-18. Tint = which stock is ahead of the pair's usual 1-year relationship (z beyond +/-0.5).
Spread z-score: WCN relative to WM, against the 252 sessions before each day. Above 0: WCN ahead; below 0: WM ahead. Lines at +/-2 (idea) and +/-4 (stop).
Data table (504 sessions)
| Date | WCN index | WM index | z | Ahead |
|---|---|---|---|---|
| 2026-10-22 | 101.25 | 112.39 | +0.74 | WCN ahead |
| 2026-10-21 | 92.16 | 107.91 | -0.25 | near the usual relationship |
| 2026-10-20 | 92.81 | 108.92 | -0.30 | near the usual relationship |
| 2026-10-19 | 90.74 | 106.42 | -0.29 | near the usual relationship |
| 2026-10-16 | 91.95 | 106.63 | -0.09 | near the usual relationship |
| 2026-10-15 | 90.64 | 105.38 | -0.14 | near the usual relationship |
| 2026-10-14 | 85.88 | 101.41 | -0.43 | near the usual relationship |
| 2026-10-13 | 84.16 | 99.57 | -0.47 | near the usual relationship |
| 2026-10-12 | 84.18 | 99.24 | -0.41 | near the usual relationship |
| 2026-10-09 | 83.70 | 98.16 | -0.32 | near the usual relationship |
| 2026-10-08 | 84.72 | 98.75 | -0.22 | near the usual relationship |
| 2026-10-07 | 84.97 | 98.21 | -0.07 | near the usual relationship |
| 2026-10-06 | 84.68 | 97.71 | -0.04 | near the usual relationship |
| 2026-10-05 | 84.50 | 97.14 | +0.02 | near the usual relationship |
| 2026-10-02 | 84.24 | 96.10 | +0.15 | near the usual relationship |
| 2026-10-01 | 82.51 | 94.90 | +0.00 | near the usual relationship |
| 2026-09-30 | 84.30 | 95.85 | +0.20 | near the usual relationship |
| 2026-09-29 | 85.19 | 97.34 | +0.11 | near the usual relationship |
| 2026-09-28 | 85.52 | 97.03 | +0.23 | near the usual relationship |
| 2026-09-25 | 85.19 | 97.22 | +0.13 | near the usual relationship |
| 2026-09-24 | 85.39 | 97.75 | +0.07 | near the usual relationship |
| 2026-09-23 | 85.11 | 97.71 | +0.01 | near the usual relationship |
| 2026-09-22 | 85.12 | 97.62 | +0.03 | near the usual relationship |
| 2026-09-21 | 85.19 | 97.32 | +0.09 | near the usual relationship |
| 2026-09-18 | 85.07 | 99.22 | -0.28 | near the usual relationship |
| 2026-09-17 | 85.01 | 100.27 | -0.48 | near the usual relationship |
| 2026-09-16 | 85.71 | 100.59 | -0.40 | near the usual relationship |
| 2026-09-15 | 87.33 | 102.12 | -0.34 | near the usual relationship |
| 2026-09-14 | 88.19 | 102.51 | -0.24 | near the usual relationship |
| 2026-09-11 | 87.48 | 100.33 | -0.02 | near the usual relationship |
| 2026-09-10 | 87.32 | 100.95 | -0.16 | near the usual relationship |
| 2026-09-09 | 88.31 | 101.73 | -0.11 | near the usual relationship |
| 2026-09-08 | 89.35 | 102.36 | -0.02 | near the usual relationship |
| 2026-09-04 | 90.29 | 102.93 | +0.06 | near the usual relationship |
| 2026-09-03 | 91.35 | 104.22 | +0.04 | near the usual relationship |
| 2026-09-02 | 89.86 | 102.96 | -0.03 | near the usual relationship |
| 2026-09-01 | 89.75 | 103.30 | -0.11 | near the usual relationship |
| 2026-08-31 | 90.54 | 102.90 | +0.09 | near the usual relationship |
| 2026-08-28 | 90.87 | 103.25 | +0.09 | near the usual relationship |
| 2026-08-27 | 90.73 | 102.35 | +0.20 | near the usual relationship |
| 2026-08-26 | 91.54 | 103.99 | +0.08 | near the usual relationship |
| 2026-08-25 | 90.99 | 104.41 | -0.09 | near the usual relationship |
| 2026-08-24 | 92.54 | 106.44 | -0.13 | near the usual relationship |
| 2026-08-21 | 92.77 | 105.32 | +0.08 | near the usual relationship |
| 2026-08-20 | 92.19 | 105.72 | -0.09 | near the usual relationship |
| 2026-08-19 | 92.42 | 105.80 | -0.07 | near the usual relationship |
| 2026-08-18 | 90.65 | 105.09 | -0.28 | near the usual relationship |
| 2026-08-17 | 90.37 | 105.30 | -0.36 | near the usual relationship |
| 2026-08-14 | 91.07 | 105.55 | -0.28 | near the usual relationship |
| 2026-08-13 | 90.65 | 105.39 | -0.34 | near the usual relationship |
| 2026-08-12 | 90.55 | 106.38 | -0.51 | WM ahead |
| 2026-08-11 | 91.37 | 106.63 | -0.41 | near the usual relationship |
| 2026-08-10 | 91.03 | 106.51 | -0.46 | near the usual relationship |
| 2026-08-07 | 91.30 | 107.02 | -0.49 | near the usual relationship |
| 2026-08-06 | 91.67 | 107.64 | -0.52 | WM ahead |
| 2026-08-05 | 90.09 | 105.43 | -0.48 | near the usual relationship |
| 2026-08-04 | 90.67 | 105.88 | -0.44 | near the usual relationship |
| 2026-08-03 | 91.90 | 106.43 | -0.32 | near the usual relationship |
| 2026-07-31 | 91.66 | 106.49 | -0.37 | near the usual relationship |
| 2026-07-30 | 91.06 | 106.38 | -0.47 | near the usual relationship |
| 2026-07-29 | 94.64 | 111.21 | -0.56 | WM ahead |
| 2026-07-28 | 92.67 | 112.53 | -1.08 | WM ahead |
| 2026-07-27 | 92.74 | 111.82 | -0.98 | WM ahead |
| 2026-07-24 | 92.89 | 112.22 | -1.02 | WM ahead |
| 2026-07-23 | 92.00 | 111.53 | -1.08 | WM ahead |
| 2026-07-22 | 91.95 | 111.11 | -1.04 | WM ahead |
| 2026-07-21 | 92.24 | 109.60 | -0.79 | WM ahead |
| 2026-07-20 | 93.58 | 112.36 | -0.96 | WM ahead |
| 2026-07-17 | 94.15 | 112.48 | -0.89 | WM ahead |
| 2026-07-16 | 95.47 | 113.87 | -0.87 | WM ahead |
| 2026-07-15 | 93.17 | 109.42 | -0.63 | WM ahead |
| 2026-07-14 | 92.86 | 110.12 | -0.79 | WM ahead |
| 2026-07-13 | 93.74 | 111.26 | -0.81 | WM ahead |
| 2026-07-10 | 93.69 | 109.67 | -0.60 | WM ahead |
| 2026-07-09 | 93.18 | 108.89 | -0.58 | WM ahead |
| 2026-07-08 | 93.96 | 109.96 | -0.61 | WM ahead |
| 2026-07-07 | 94.70 | 111.50 | -0.70 | WM ahead |
| 2026-07-06 | 91.80 | 107.63 | -0.64 | WM ahead |
| 2026-07-02 | 92.45 | 108.30 | -0.64 | WM ahead |
| 2026-07-01 | 90.20 | 105.33 | -0.59 | WM ahead |
| 2026-06-30 | 91.29 | 104.76 | -0.33 | near the usual relationship |
| 2026-06-29 | 91.53 | 104.99 | -0.33 | near the usual relationship |
| 2026-06-26 | 91.95 | 106.01 | -0.41 | near the usual relationship |
| 2026-06-25 | 91.02 | 104.86 | -0.40 | near the usual relationship |
| 2026-06-24 | 91.16 | 104.94 | -0.40 | near the usual relationship |
| 2026-06-23 | 87.32 | 102.86 | -0.75 | WM ahead |
| 2026-06-22 | 84.03 | 100.26 | -0.96 | WM ahead |
| 2026-06-18 | 84.32 | 100.87 | -1.01 | WM ahead |
| 2026-06-17 | 84.95 | 101.46 | -0.99 | WM ahead |
| 2026-06-16 | 86.02 | 102.75 | -1.00 | WM ahead |
| 2026-06-15 | 84.87 | 101.97 | -1.10 | WM ahead |
| 2026-06-12 | 85.49 | 103.15 | -1.17 | WM ahead |
| 2026-06-11 | 85.14 | 102.84 | -1.20 | WM ahead |
| 2026-06-10 | 87.09 | 105.42 | -1.24 | WM ahead |
| 2026-06-09 | 86.30 | 104.02 | -1.19 | WM ahead |
| 2026-06-08 | 84.18 | 101.59 | -1.21 | WM ahead |
| 2026-06-05 | 85.01 | 103.60 | -1.38 | WM ahead |
| 2026-06-04 | 84.31 | 102.94 | -1.42 | WM ahead |
| 2026-06-03 | 82.63 | 102.47 | -1.68 | WM ahead |
| 2026-06-02 | 81.65 | 99.61 | -1.44 | WM ahead |
| 2026-06-01 | 81.88 | 99.89 | -1.45 | WM ahead |
| 2026-05-29 | 81.61 | 99.39 | -1.43 | WM ahead |
| 2026-05-28 | 82.72 | 100.78 | -1.45 | WM ahead |
| 2026-05-27 | 82.99 | 101.33 | -1.50 | WM ahead |
| 2026-05-26 | 84.16 | 101.28 | -1.28 | WM ahead |
| 2026-05-22 | 85.27 | 102.42 | -1.26 | WM ahead |
| 2026-05-21 | 85.31 | 102.35 | -1.25 | WM ahead |
| 2026-05-20 | 85.97 | 103.22 | -1.27 | WM ahead |
| 2026-05-19 | 86.18 | 104.51 | -1.44 | WM ahead |
| 2026-05-18 | 87.03 | 104.69 | -1.33 | WM ahead |
| 2026-05-15 | 85.77 | 103.32 | -1.36 | WM ahead |
| 2026-05-14 | 84.84 | 102.85 | -1.47 | WM ahead |
| 2026-05-13 | 83.33 | 101.73 | -1.60 | WM ahead |
| 2026-05-12 | 82.83 | 102.30 | -1.81 | WM ahead |
| 2026-05-11 | 82.68 | 100.64 | -1.59 | WM ahead |
| 2026-05-08 | 83.14 | 101.23 | -1.60 | WM ahead |
| 2026-05-07 | 84.10 | 104.09 | -1.89 | WM ahead |
| 2026-05-06 | 84.05 | 103.65 | -1.85 | WM ahead |
| 2026-05-05 | 86.34 | 105.52 | -1.72 | WM ahead |
| 2026-05-04 | 87.96 | 107.10 | -1.67 | WM ahead |
| 2026-05-01 | 88.30 | 107.53 | -1.69 | WM ahead |
| 2026-04-30 | 90.21 | 109.31 | -1.62 | WM ahead |
| 2026-04-29 | 89.68 | 108.25 | -1.58 | WM ahead |
| 2026-04-28 | 89.56 | 106.86 | -1.40 | WM ahead |
| 2026-04-27 | 88.47 | 106.32 | -1.53 | WM ahead |
| 2026-04-24 | 90.95 | 107.89 | -1.32 | WM ahead |
| 2026-04-23 | 92.49 | 109.42 | -1.29 | WM ahead |
| 2026-04-22 | 85.71 | 105.25 | -1.92 | WM ahead |
| 2026-04-21 | 86.49 | 105.02 | -1.75 | WM ahead |
| 2026-04-20 | 87.56 | 105.37 | -1.62 | WM ahead |
| 2026-04-17 | 87.42 | 105.26 | -1.64 | WM ahead |
| 2026-04-16 | 87.62 | 105.33 | -1.63 | WM ahead |
| 2026-04-15 | 87.51 | 105.73 | -1.73 | WM ahead |
| 2026-04-14 | 87.40 | 106.74 | -1.93 | WM ahead |
| 2026-04-13 | 88.56 | 108.58 | -2.01 | WM ahead |
| 2026-04-10 | 88.49 | 107.85 | -1.93 | WM ahead |
| 2026-04-09 | 89.70 | 109.57 | -1.99 | WM ahead |
| 2026-04-08 | 89.27 | 108.78 | -1.98 | WM ahead |
| 2026-04-07 | 89.81 | 109.66 | -2.04 | WM ahead |
| 2026-04-06 | 90.64 | 109.89 | -1.94 | WM ahead |
| 2026-04-02 | 90.95 | 110.66 | -2.02 | WM ahead |
| 2026-04-01 | 89.17 | 108.58 | -2.06 | WM ahead |
| 2026-03-31 | 88.96 | 108.01 | -2.04 | WM ahead |
| 2026-03-30 | 88.64 | 108.09 | -2.14 | WM ahead |
| 2026-03-27 | 85.44 | 105.79 | -2.44 | WM ahead |
| 2026-03-26 | 86.08 | 106.47 | -2.46 | WM ahead |
| 2026-03-25 | 86.01 | 105.69 | -2.38 | WM ahead |
| 2026-03-24 | 86.41 | 105.73 | -2.34 | WM ahead |
| 2026-03-23 | 88.88 | 106.95 | -2.05 | WM ahead |
| 2026-03-20 | 89.04 | 108.69 | -2.35 | WM ahead |
| 2026-03-19 | 90.27 | 109.91 | -2.34 | WM ahead |
| 2026-03-18 | 89.65 | 109.89 | -2.51 | WM ahead |
| 2026-03-17 | 91.48 | 110.95 | -2.34 | WM ahead |
| 2026-03-16 | 91.59 | 111.38 | -2.43 | WM ahead |
| 2026-03-13 | 91.19 | 112.12 | -2.69 | WM ahead |
| 2026-03-12 | 91.43 | 112.16 | -2.70 | WM ahead |
| 2026-03-11 | 91.29 | 111.16 | -2.60 | WM ahead |
| 2026-03-10 | 90.66 | 110.71 | -2.70 | WM ahead |
| 2026-03-09 | 94.05 | 115.87 | -2.95 | WM ahead |
| 2026-03-06 | 93.18 | 115.65 | -3.17 | WM ahead |
| 2026-03-05 | 93.50 | 115.67 | -3.18 | WM ahead |
| 2026-03-04 | 93.01 | 114.67 | -3.18 | WM ahead |
| 2026-03-03 | 94.51 | 114.43 | -2.84 | WM ahead |
| 2026-03-02 | 94.83 | 114.25 | -2.78 | WM ahead |
| 2026-02-27 | 94.27 | 113.20 | -2.76 | WM ahead |
| 2026-02-26 | 92.74 | 109.94 | -2.50 | WM ahead |
| 2026-02-25 | 91.24 | 107.22 | -2.33 | WM ahead |
| 2026-02-24 | 90.62 | 107.91 | -2.69 | WM ahead |
| 2026-02-23 | 89.27 | 108.37 | -3.23 | WM ahead |
| 2026-02-20 | 89.61 | 108.25 | -3.19 | WM ahead |
| 2026-02-19 | 90.94 | 109.72 | -3.23 | WM ahead |
| 2026-02-18 | 89.13 | 110.02 | -3.94 | WM ahead |
| 2026-02-17 | 88.32 | 110.56 | -4.49 | WM ahead |
| 2026-02-13 | 87.77 | 110.23 | -4.80 | WM ahead |
| 2026-02-12 | 86.30 | 108.58 | -5.12 | WM ahead |
| 2026-02-11 | 94.03 | 110.30 | -3.10 | WM ahead |
| 2026-02-10 | 93.46 | 108.92 | -2.97 | WM ahead |
| 2026-02-09 | 94.11 | 108.34 | -2.63 | WM ahead |
| 2026-02-06 | 92.66 | 106.60 | -2.66 | WM ahead |
| 2026-02-05 | 92.65 | 106.51 | -2.68 | WM ahead |
| 2026-02-04 | 92.71 | 106.43 | -2.69 | WM ahead |
| 2026-02-03 | 91.08 | 105.80 | -3.13 | WM ahead |
| 2026-02-02 | 92.06 | 104.89 | -2.54 | WM ahead |
| 2026-01-30 | 91.79 | 104.46 | -2.54 | WM ahead |
| 2026-01-29 | 91.58 | 104.88 | -2.79 | WM ahead |
| 2026-01-28 | 92.75 | 108.86 | -3.71 | WM ahead |
| 2026-01-27 | 92.86 | 108.74 | -3.74 | WM ahead |
| 2026-01-26 | 93.81 | 108.23 | -3.29 | WM ahead |
| 2026-01-23 | 93.22 | 107.75 | -3.44 | WM ahead |
| 2026-01-22 | 93.18 | 107.64 | -3.51 | WM ahead |
| 2026-01-21 | 91.18 | 106.46 | -4.05 | WM ahead |
| 2026-01-20 | 89.95 | 104.02 | -3.79 | WM ahead |
| 2026-01-16 | 91.52 | 103.99 | -3.17 | WM ahead |
| 2026-01-15 | 91.80 | 103.34 | -2.85 | WM ahead |
| 2026-01-14 | 90.25 | 102.84 | -3.42 | WM ahead |
| 2026-01-13 | 89.30 | 101.61 | -3.45 | WM ahead |
| 2026-01-12 | 91.03 | 102.74 | -3.17 | WM ahead |
| 2026-01-09 | 91.08 | 103.84 | -3.70 | WM ahead |
| 2026-01-08 | 92.12 | 102.40 | -2.64 | WM ahead |
| 2026-01-07 | 92.29 | 101.51 | -2.21 | WM ahead |
| 2026-01-06 | 95.45 | 102.98 | -1.37 | WM ahead |
| 2026-01-05 | 95.26 | 103.14 | -1.54 | WM ahead |
| 2026-01-02 | 95.36 | 102.66 | -1.30 | WM ahead |
| 2025-12-31 | 96.04 | 103.27 | -1.26 | WM ahead |
| 2025-12-30 | 97.56 | 104.40 | -1.05 | WM ahead |
| 2025-12-29 | 97.78 | 104.48 | -1.00 | WM ahead |
| 2025-12-26 | 97.56 | 103.92 | -0.87 | WM ahead |
| 2025-12-24 | 97.39 | 104.05 | -1.00 | WM ahead |
| 2025-12-23 | 97.31 | 103.57 | -0.84 | WM ahead |
| 2025-12-22 | 96.93 | 103.25 | -0.88 | WM ahead |
| 2025-12-19 | 95.94 | 101.69 | -0.68 | WM ahead |
| 2025-12-18 | 96.18 | 102.62 | -0.97 | WM ahead |
| 2025-12-17 | 96.39 | 103.30 | -1.18 | WM ahead |
| 2025-12-16 | 96.40 | 102.89 | -1.00 | WM ahead |
| 2025-12-15 | 96.64 | 102.62 | -0.78 | WM ahead |
| 2025-12-12 | 94.54 | 101.34 | -1.20 | WM ahead |
| 2025-12-11 | 93.84 | 99.67 | -0.81 | WM ahead |
| 2025-12-10 | 92.01 | 98.31 | -1.07 | WM ahead |
| 2025-12-09 | 92.18 | 98.38 | -1.03 | WM ahead |
| 2025-12-08 | 93.32 | 98.82 | -0.70 | WM ahead |
| 2025-12-05 | 94.80 | 100.39 | -0.71 | WM ahead |
| 2025-12-04 | 94.88 | 100.68 | -0.80 | WM ahead |
| 2025-12-03 | 95.43 | 101.60 | -0.95 | WM ahead |
| 2025-12-02 | 94.90 | 100.84 | -0.88 | WM ahead |
| 2025-12-01 | 95.38 | 101.49 | -0.95 | WM ahead |
| 2025-11-28 | 96.69 | 102.41 | -0.76 | WM ahead |
| 2025-11-26 | 96.95 | 102.16 | -0.55 | WM ahead |
| 2025-11-25 | 96.66 | 101.64 | -0.46 | near the usual relationship |
| 2025-11-24 | 94.82 | 99.57 | -0.41 | near the usual relationship |
| 2025-11-21 | 96.00 | 101.82 | -0.83 | WM ahead |
| 2025-11-20 | 95.03 | 101.90 | -1.30 | WM ahead |
| 2025-11-19 | 95.66 | 101.37 | -0.81 | WM ahead |
| 2025-11-18 | 94.28 | 99.32 | -0.57 | WM ahead |
| 2025-11-17 | 92.72 | 97.75 | -0.61 | WM ahead |
| 2025-11-14 | 92.35 | 98.32 | -1.02 | WM ahead |
| 2025-11-13 | 91.67 | 96.13 | -0.39 | near the usual relationship |
| 2025-11-12 | 92.44 | 95.79 | +0.10 | near the usual relationship |
| 2025-11-11 | 91.70 | 95.54 | -0.12 | near the usual relationship |
| 2025-11-10 | 90.88 | 94.23 | +0.08 | near the usual relationship |
| 2025-11-07 | 91.01 | 94.91 | -0.16 | near the usual relationship |
| 2025-11-06 | 90.53 | 93.83 | +0.10 | near the usual relationship |
| 2025-11-05 | 90.89 | 94.26 | +0.07 | near the usual relationship |
| 2025-11-04 | 92.40 | 94.33 | +0.74 | WCN ahead |
| 2025-11-03 | 90.78 | 92.49 | +0.82 | WCN ahead |
| 2025-10-31 | 91.83 | 93.90 | +0.67 | WCN ahead |
| 2025-10-30 | 93.64 | 94.27 | +1.32 | WCN ahead |
| 2025-10-29 | 92.24 | 92.85 | +1.33 | WCN ahead |
| 2025-10-28 | 95.37 | 96.00 | +1.33 | WCN ahead |
| 2025-10-27 | 95.72 | 100.48 | -0.43 | near the usual relationship |
| 2025-10-24 | 96.83 | 100.90 | -0.13 | near the usual relationship |
| 2025-10-23 | 96.83 | 101.58 | -0.42 | near the usual relationship |
| 2025-10-22 | 97.74 | 101.74 | -0.10 | near the usual relationship |
| 2025-10-21 | 95.18 | 101.01 | -0.90 | WM ahead |
| 2025-10-20 | 95.29 | 101.25 | -0.96 | WM ahead |
| 2025-10-17 | 94.73 | 101.28 | -1.23 | WM ahead |
| 2025-10-16 | 93.56 | 100.25 | -1.33 | WM ahead |
| 2025-10-15 | 92.96 | 100.44 | -1.68 | WM ahead |
| 2025-10-14 | 94.50 | 102.52 | -1.87 | WM ahead |
| 2025-10-13 | 94.19 | 102.04 | -1.82 | WM ahead |
| 2025-10-10 | 94.66 | 103.06 | -2.05 | WM ahead |
| 2025-10-09 | 93.21 | 102.25 | -2.39 | WM ahead |
| 2025-10-08 | 95.12 | 103.40 | -2.04 | WM ahead |
| 2025-10-07 | 94.99 | 102.26 | -1.65 | WM ahead |
| 2025-10-06 | 95.37 | 102.32 | -1.52 | WM ahead |
| 2025-10-03 | 95.52 | 103.29 | -1.87 | WM ahead |
| 2025-10-02 | 94.76 | 101.96 | -1.67 | WM ahead |
| 2025-10-01 | 95.90 | 103.35 | -1.75 | WM ahead |
| 2025-09-30 | 96.28 | 103.80 | -1.78 | WM ahead |
| 2025-09-29 | 95.45 | 103.14 | -1.89 | WM ahead |
| 2025-09-26 | 94.42 | 102.79 | -2.23 | WM ahead |
| 2025-09-25 | 93.82 | 102.07 | -2.23 | WM ahead |
| 2025-09-24 | 94.33 | 103.14 | -2.46 | WM ahead |
| 2025-09-23 | 94.21 | 102.58 | -2.30 | WM ahead |
| 2025-09-22 | 94.73 | 101.99 | -1.83 | WM ahead |
| 2025-09-19 | 95.27 | 101.72 | -1.47 | WM ahead |
| 2025-09-18 | 96.06 | 101.49 | -1.04 | WM ahead |
| 2025-09-17 | 94.93 | 101.37 | -1.47 | WM ahead |
| 2025-09-16 | 95.06 | 100.53 | -1.08 | WM ahead |
| 2025-09-15 | 96.15 | 101.59 | -1.05 | WM ahead |
| 2025-09-12 | 96.42 | 102.54 | -1.31 | WM ahead |
| 2025-09-11 | 97.56 | 103.64 | -1.27 | WM ahead |
| 2025-09-10 | 96.50 | 102.32 | -1.20 | WM ahead |
| 2025-09-09 | 97.27 | 103.01 | -1.16 | WM ahead |
| 2025-09-08 | 97.69 | 102.96 | -0.98 | WM ahead |
| 2025-09-05 | 98.19 | 103.44 | -0.96 | WM ahead |
| 2025-09-04 | 99.27 | 105.73 | -1.39 | WM ahead |
| 2025-09-03 | 98.95 | 105.48 | -1.43 | WM ahead |
| 2025-09-02 | 100.14 | 106.10 | -1.21 | WM ahead |
| 2025-08-29 | 101.21 | 106.41 | -0.92 | WM ahead |
| 2025-08-28 | 100.35 | 105.56 | -0.95 | WM ahead |
| 2025-08-27 | 100.35 | 106.15 | -1.16 | WM ahead |
| 2025-08-26 | 100.15 | 105.88 | -1.14 | WM ahead |
| 2025-08-25 | 99.78 | 105.31 | -1.09 | WM ahead |
| 2025-08-22 | 101.19 | 106.71 | -1.06 | WM ahead |
| 2025-08-21 | 102.12 | 107.92 | -1.15 | WM ahead |
| 2025-08-20 | 101.75 | 108.12 | -1.35 | WM ahead |
| 2025-08-19 | 101.96 | 107.40 | -1.05 | WM ahead |
| 2025-08-18 | 101.22 | 105.38 | -0.64 | WM ahead |
| 2025-08-15 | 101.19 | 106.61 | -1.07 | WM ahead |
| 2025-08-14 | 101.17 | 106.30 | -0.98 | WM ahead |
| 2025-08-13 | 101.72 | 108.06 | -1.37 | WM ahead |
| 2025-08-12 | 102.63 | 109.51 | -1.54 | WM ahead |
| 2025-08-11 | 104.37 | 111.45 | -1.58 | WM ahead |
| 2025-08-08 | 102.90 | 110.50 | -1.79 | WM ahead |
| 2025-08-07 | 103.00 | 109.62 | -1.49 | WM ahead |
| 2025-08-06 | 102.88 | 108.86 | -1.30 | WM ahead |
| 2025-08-05 | 102.31 | 108.00 | -1.22 | WM ahead |
| 2025-08-04 | 102.61 | 108.36 | -1.25 | WM ahead |
| 2025-08-01 | 102.17 | 107.58 | -1.15 | WM ahead |
| 2025-07-31 | 102.23 | 107.71 | -1.18 | WM ahead |
| 2025-07-30 | 103.61 | 109.29 | -1.23 | WM ahead |
| 2025-07-29 | 105.06 | 110.72 | -1.21 | WM ahead |
| 2025-07-28 | 101.89 | 107.12 | -1.13 | WM ahead |
| 2025-07-25 | 102.38 | 107.95 | -1.23 | WM ahead |
| 2025-07-24 | 103.09 | 108.39 | -1.13 | WM ahead |
| 2025-07-23 | 101.00 | 107.22 | -1.47 | WM ahead |
| 2025-07-22 | 101.19 | 106.74 | -1.25 | WM ahead |
| 2025-07-21 | 99.68 | 105.90 | -1.50 | WM ahead |
| 2025-07-18 | 100.02 | 106.85 | -1.71 | WM ahead |
| 2025-07-17 | 99.80 | 106.09 | -1.54 | WM ahead |
| 2025-07-16 | 100.13 | 106.16 | -1.46 | WM ahead |
| 2025-07-15 | 100.56 | 106.15 | -1.32 | WM ahead |
| 2025-07-14 | 101.01 | 107.78 | -1.72 | WM ahead |
| 2025-07-11 | 100.43 | 106.23 | -1.42 | WM ahead |
| 2025-07-10 | 99.68 | 106.06 | -1.65 | WM ahead |
| 2025-07-09 | 99.71 | 106.11 | -1.67 | WM ahead |
| 2025-07-08 | 99.23 | 105.70 | -1.72 | WM ahead |
| 2025-07-07 | 99.79 | 106.66 | -1.86 | WM ahead |
| 2025-07-03 | 98.98 | 106.75 | -2.22 | WM ahead |
| 2025-07-02 | 97.54 | 105.00 | -2.17 | WM ahead |
| 2025-07-01 | 101.79 | 107.54 | -1.47 | WM ahead |
| 2025-06-30 | 101.79 | 107.55 | -1.48 | WM ahead |
| 2025-06-27 | 101.81 | 107.29 | -1.39 | WM ahead |
| 2025-06-26 | 102.68 | 106.57 | -0.81 | WM ahead |
| 2025-06-25 | 101.69 | 107.44 | -1.49 | WM ahead |
| 2025-06-24 | 103.04 | 110.05 | -1.92 | WM ahead |
| 2025-06-23 | 102.75 | 110.32 | -2.14 | WM ahead |
| 2025-06-20 | 101.71 | 109.02 | -2.11 | WM ahead |
| 2025-06-18 | 102.49 | 109.62 | -2.04 | WM ahead |
| 2025-06-17 | 102.80 | 110.13 | -2.12 | WM ahead |
| 2025-06-16 | 102.45 | 110.30 | -2.35 | WM ahead |
| 2025-06-13 | 104.42 | 111.16 | -1.92 | WM ahead |
| 2025-06-12 | 104.85 | 111.47 | -1.88 | WM ahead |
| 2025-06-11 | 103.68 | 110.12 | -1.86 | WM ahead |
| 2025-06-10 | 103.41 | 109.98 | -1.93 | WM ahead |
| 2025-06-09 | 103.50 | 109.98 | -1.91 | WM ahead |
| 2025-06-06 | 104.17 | 111.08 | -2.06 | WM ahead |
| 2025-06-05 | 105.19 | 112.17 | -2.06 | WM ahead |
| 2025-06-04 | 104.89 | 112.29 | -2.19 | WM ahead |
| 2025-06-03 | 105.86 | 112.90 | -2.01 | WM ahead |
| 2025-06-02 | 107.51 | 113.80 | -1.69 | WM ahead |
| 2025-05-30 | 107.94 | 113.26 | -1.32 | WM ahead |
| 2025-05-29 | 106.46 | 111.76 | -1.32 | WM ahead |
| 2025-05-28 | 107.05 | 111.47 | -0.98 | WM ahead |
| 2025-05-27 | 107.58 | 111.88 | -0.92 | WM ahead |
| 2025-05-23 | 107.80 | 111.31 | -0.63 | WM ahead |
| 2025-05-22 | 106.74 | 109.67 | -0.43 | near the usual relationship |
| 2025-05-21 | 107.30 | 110.04 | -0.35 | near the usual relationship |
| 2025-05-20 | 107.35 | 109.94 | -0.29 | near the usual relationship |
| 2025-05-19 | 105.90 | 109.02 | -0.47 | near the usual relationship |
| 2025-05-16 | 105.10 | 108.05 | -0.40 | near the usual relationship |
| 2025-05-15 | 104.58 | 107.18 | -0.28 | near the usual relationship |
| 2025-05-14 | 102.02 | 104.57 | -0.28 | near the usual relationship |
| 2025-05-13 | 101.74 | 104.53 | -0.35 | near the usual relationship |
| 2025-05-12 | 102.18 | 106.03 | -0.67 | WM ahead |
| 2025-05-09 | 106.95 | 109.40 | -0.18 | near the usual relationship |
| 2025-05-08 | 107.10 | 109.58 | -0.18 | near the usual relationship |
| 2025-05-07 | 108.65 | 110.70 | -0.03 | near the usual relationship |
| 2025-05-06 | 108.64 | 110.02 | +0.18 | near the usual relationship |
| 2025-05-05 | 108.39 | 110.36 | +0.01 | near the usual relationship |
| 2025-05-02 | 108.32 | 109.96 | +0.12 | near the usual relationship |
| 2025-05-01 | 107.44 | 109.71 | -0.06 | near the usual relationship |
| 2025-04-30 | 108.23 | 109.69 | +0.19 | near the usual relationship |
| 2025-04-29 | 107.08 | 107.54 | +0.48 | near the usual relationship |
| 2025-04-28 | 106.29 | 107.68 | +0.22 | near the usual relationship |
| 2025-04-25 | 106.50 | 107.31 | +0.39 | near the usual relationship |
| 2025-04-24 | 107.73 | 106.92 | +0.85 | WCN ahead |
| 2025-04-23 | 107.16 | 107.46 | +0.55 | WCN ahead |
| 2025-04-22 | 108.38 | 108.09 | +0.72 | WCN ahead |
| 2025-04-21 | 106.56 | 106.97 | +0.53 | WCN ahead |
| 2025-04-17 | 108.09 | 108.54 | +0.52 | WCN ahead |
| 2025-04-16 | 107.65 | 107.91 | +0.58 | WCN ahead |
| 2025-04-15 | 107.33 | 108.80 | +0.25 | near the usual relationship |
| 2025-04-14 | 107.22 | 109.19 | +0.12 | near the usual relationship |
| 2025-04-11 | 106.63 | 107.82 | +0.34 | near the usual relationship |
| 2025-04-10 | 105.05 | 106.44 | +0.28 | near the usual relationship |
| 2025-04-09 | 105.64 | 105.49 | +0.72 | WCN ahead |
| 2025-04-08 | 100.36 | 101.75 | +0.27 | near the usual relationship |
| 2025-04-07 | 101.18 | 103.67 | -0.04 | near the usual relationship |
| 2025-04-04 | 102.38 | 105.85 | -0.29 | near the usual relationship |
| 2025-04-03 | 109.50 | 111.32 | +0.21 | near the usual relationship |
| 2025-04-02 | 107.68 | 110.25 | +0.00 | near the usual relationship |
| 2025-04-01 | 107.62 | 109.89 | +0.09 | near the usual relationship |
| 2025-03-31 | 106.89 | 108.82 | +0.18 | near the usual relationship |
| 2025-03-28 | 105.60 | 107.13 | +0.28 | near the usual relationship |
| 2025-03-27 | 106.19 | 107.65 | +0.31 | near the usual relationship |
| 2025-03-26 | 105.01 | 107.61 | +0.00 | near the usual relationship |
| 2025-03-25 | 105.64 | 106.73 | +0.42 | near the usual relationship |
| 2025-03-24 | 104.56 | 106.34 | +0.23 | near the usual relationship |
| 2025-03-21 | 103.68 | 105.72 | +0.16 | near the usual relationship |
| 2025-03-20 | 103.98 | 106.65 | +0.00 | near the usual relationship |
| 2025-03-19 | 104.44 | 106.87 | +0.07 | near the usual relationship |
| 2025-03-18 | 102.73 | 106.17 | -0.21 | near the usual relationship |
| 2025-03-17 | 102.90 | 107.26 | -0.45 | near the usual relationship |
| 2025-03-14 | 101.47 | 105.69 | -0.43 | near the usual relationship |
| 2025-03-13 | 100.34 | 104.91 | -0.53 | WM ahead |
| 2025-03-12 | 100.31 | 104.75 | -0.49 | near the usual relationship |
| 2025-03-11 | 100.88 | 105.39 | -0.50 | WM ahead |
| 2025-03-10 | 101.99 | 107.06 | -0.63 | WM ahead |
| 2025-03-07 | 103.15 | 107.90 | -0.53 | WM ahead |
| 2025-03-06 | 101.73 | 106.21 | -0.48 | near the usual relationship |
| 2025-03-05 | 103.99 | 108.29 | -0.40 | near the usual relationship |
| 2025-03-04 | 104.43 | 108.09 | -0.23 | near the usual relationship |
| 2025-03-03 | 105.13 | 109.88 | -0.50 | WM ahead |
| 2025-02-28 | 103.92 | 109.41 | -0.70 | WM ahead |
| 2025-02-27 | 102.04 | 107.92 | -0.83 | WM ahead |
| 2025-02-26 | 102.89 | 107.49 | -0.49 | near the usual relationship |
| 2025-02-25 | 103.49 | 108.46 | -0.57 | WM ahead |
| 2025-02-24 | 102.93 | 107.96 | -0.59 | WM ahead |
| 2025-02-21 | 102.62 | 107.18 | -0.48 | near the usual relationship |
| 2025-02-20 | 102.88 | 107.69 | -0.54 | WM ahead |
| 2025-02-19 | 102.86 | 107.41 | -0.48 | near the usual relationship |
| 2025-02-18 | 102.77 | 107.33 | -0.48 | near the usual relationship |
| 2025-02-14 | 103.53 | 107.04 | -0.19 | near the usual relationship |
| 2025-02-13 | 103.42 | 106.98 | -0.20 | near the usual relationship |
| 2025-02-12 | 104.04 | 106.89 | -0.01 | near the usual relationship |
| 2025-02-11 | 104.01 | 106.58 | +0.06 | near the usual relationship |
| 2025-02-10 | 103.82 | 106.27 | +0.09 | near the usual relationship |
| 2025-02-07 | 104.18 | 105.72 | +0.33 | near the usual relationship |
| 2025-02-06 | 103.65 | 105.72 | +0.19 | near the usual relationship |
| 2025-02-05 | 103.27 | 105.65 | +0.11 | near the usual relationship |
| 2025-02-04 | 102.73 | 104.41 | +0.29 | near the usual relationship |
| 2025-02-03 | 102.59 | 105.16 | +0.06 | near the usual relationship |
| 2025-01-31 | 100.64 | 103.53 | -0.04 | near the usual relationship |
| 2025-01-30 | 102.17 | 104.55 | +0.10 | near the usual relationship |
| 2025-01-29 | 98.93 | 98.50 | +0.87 | WCN ahead |
| 2025-01-28 | 100.20 | 100.42 | +0.69 | WCN ahead |
| 2025-01-27 | 99.46 | 100.41 | +0.49 | near the usual relationship |
| 2025-01-24 | 97.32 | 98.44 | +0.44 | near the usual relationship |
| 2025-01-23 | 98.24 | 98.75 | +0.62 | WCN ahead |
| 2025-01-22 | 97.73 | 99.38 | +0.30 | near the usual relationship |
| 2025-01-21 | 97.96 | 100.08 | +0.17 | near the usual relationship |
| 2025-01-17 | 97.61 | 99.51 | +0.23 | near the usual relationship |
| 2025-01-16 | 97.55 | 99.18 | +0.31 | near the usual relationship |
| 2025-01-15 | 96.77 | 97.77 | +0.49 | near the usual relationship |
| 2025-01-14 | 95.97 | 97.38 | +0.38 | near the usual relationship |
| 2025-01-13 | 96.76 | 97.55 | +0.56 | WCN ahead |
| 2025-01-10 | 95.73 | 97.41 | +0.30 | near the usual relationship |
| 2025-01-08 | 96.37 | 97.10 | +0.58 | WCN ahead |
| 2025-01-07 | 94.45 | 95.60 | +0.46 | near the usual relationship |
| 2025-01-06 | 94.14 | 94.83 | +0.59 | WCN ahead |
| 2025-01-03 | 93.61 | 94.78 | +0.45 | near the usual relationship |
| 2025-01-02 | 93.04 | 94.26 | +0.44 | near the usual relationship |
| 2024-12-31 | 93.96 | 94.85 | +0.54 | WCN ahead |
| 2024-12-30 | 93.74 | 95.07 | +0.41 | near the usual relationship |
| 2024-12-27 | 93.80 | 95.90 | +0.19 | near the usual relationship |
| 2024-12-26 | 94.10 | 96.37 | +0.14 | near the usual relationship |
| 2024-12-24 | 94.58 | 96.54 | +0.24 | near the usual relationship |
| 2024-12-23 | 93.68 | 95.79 | +0.19 | near the usual relationship |
| 2024-12-20 | 95.44 | 96.75 | +0.43 | near the usual relationship |
| 2024-12-19 | 95.36 | 96.61 | +0.45 | near the usual relationship |
| 2024-12-18 | 95.65 | 96.56 | +0.55 | WCN ahead |
| 2024-12-17 | 96.53 | 98.24 | +0.33 | near the usual relationship |
| 2024-12-16 | 97.52 | 99.48 | +0.27 | near the usual relationship |
| 2024-12-13 | 98.55 | 100.21 | +0.36 | near the usual relationship |
| 2024-12-12 | 100.90 | 100.80 | +0.86 | WCN ahead |
| 2024-12-11 | 101.23 | 100.83 | +0.94 | WCN ahead |
| 2024-12-10 | 101.75 | 101.57 | +0.89 | WCN ahead |
| 2024-12-09 | 102.01 | 102.22 | +0.79 | WCN ahead |
| 2024-12-06 | 104.24 | 104.44 | +0.80 | WCN ahead |
| 2024-12-05 | 104.22 | 105.31 | +0.57 | WCN ahead |
| 2024-12-04 | 104.61 | 105.89 | +0.52 | WCN ahead |
| 2024-12-03 | 104.90 | 105.76 | +0.64 | WCN ahead |
| 2024-12-02 | 104.51 | 105.81 | +0.53 | WCN ahead |
| 2024-11-29 | 105.41 | 107.27 | +0.40 | near the usual relationship |
| 2024-11-27 | 105.79 | 107.38 | +0.47 | near the usual relationship |
| 2024-11-26 | 105.83 | 106.91 | +0.61 | WCN ahead |
| 2024-11-25 | 105.59 | 106.06 | +0.77 | WCN ahead |
| 2024-11-22 | 103.98 | 105.48 | +0.51 | WCN ahead |
| 2024-11-21 | 103.51 | 104.13 | +0.74 | WCN ahead |
| 2024-11-20 | 102.15 | 102.83 | +0.73 | WCN ahead |
| 2024-11-19 | 102.68 | 102.96 | +0.84 | WCN ahead |
| 2024-11-18 | 101.87 | 102.61 | +0.73 | WCN ahead |
| 2024-11-15 | 100.49 | 102.42 | +0.42 | near the usual relationship |
| 2024-11-14 | 100.62 | 104.22 | +0.00 | near the usual relationship |
| 2024-11-13 | 102.68 | 106.08 | +0.08 | near the usual relationship |
| 2024-11-12 | 102.74 | 105.65 | +0.20 | near the usual relationship |
| 2024-11-11 | 101.51 | 105.11 | +0.03 | near the usual relationship |
| 2024-11-08 | 100.79 | 105.34 | -0.20 | near the usual relationship |
| 2024-11-07 | 99.62 | 103.61 | -0.07 | near the usual relationship |
| 2024-11-06 | 98.25 | 102.69 | -0.19 | near the usual relationship |
| 2024-11-05 | 97.91 | 101.47 | +0.03 | near the usual relationship |
| 2024-11-04 | 97.28 | 100.70 | +0.07 | near the usual relationship |
| 2024-11-01 | 96.91 | 100.58 | +0.00 | near the usual relationship |
| 2024-10-31 | 96.80 | 101.46 | -0.24 | near the usual relationship |
| 2024-10-30 | 97.33 | 100.97 | +0.02 | near the usual relationship |
| 2024-10-29 | 98.81 | 102.99 | -0.09 | near the usual relationship |
| 2024-10-28 | 96.88 | 97.89 | +0.69 | WCN ahead |
| 2024-10-25 | 96.28 | 97.20 | +0.71 | WCN ahead |
| 2024-10-24 | 97.79 | 98.20 | +0.84 | WCN ahead |
| 2024-10-23 | 98.77 | 99.55 | +0.75 | WCN ahead |
| 2024-10-22 | 99.32 | 99.20 | +0.97 | WCN ahead |
| 2024-10-21 | 99.51 | 99.56 | +0.92 | WCN ahead |
| 2024-10-18 | 100.00 | 100.00 | +0.94 | WCN ahead |
One-day company-specific moves (4+ standard deviations, which block ideas for 10 sessions): Oct 28, 2025 (WCN -0.4%, WM -4.5%); Feb 12, 2026 (WCN -8.2%, WM -1.6%); Oct 22, 2026 (WCN +9.9%, WM +4.2%). Upcoming earnings: WM Oct 27, 2026 (after-hours).
Paired trades
The shared paper book and the replay, kept apart
Forward paper record
No paper position on this pair yet.
Historical simulation (a diagnostic, same rules)
3 simulated trades to Oct 20, 2026: +1.25% per trade on average after costs, 2 won.
| Legs | Entered | Exited | Why | Days | Before costs | Costs + borrow | After costs |
|---|---|---|---|---|---|---|---|
| Long WCN · Short WM | Jun 4, 2025 | Oct 29, 2025 | converged | 147 | $443.19 | -$60.69 | $352.02 (+3.52%) |
| Long WCN · Short WM | Mar 26, 2021 | Mar 14, 2022 | converged | 353 | $833.30 | -$97.53 | $621.95 (+6.22%) |
| Long WCN · Short WM | Jul 22, 2019 | Aug 26, 2019 | divergence stop | 35 | -$521.35 | -$67.28 | -$599.44 (-5.99%) |
Per $10,000 a leg. A replay on today's companies cannot prove an edge.
The companies
WCN and WM at a glance
WCN Waste Connections Inc.
- Listing
- NYSE · SEC CIK 1318220
- Industry
- Environmental Services · SIC 4953 Refuse Systems
- Market value
- $42.3B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
WM Waste Management Inc.
- Listing
- NYSE · SEC CIK 823768
- Industry
- Environmental Services · SIC 4953 Refuse Systems
- Market value
- $90.5B
- Price history
- 2,521 daily closes, Oct 12, 2016 to Oct 22, 2026
Daily prices: Nasdaq.com. Filings and industry codes: SEC EDGAR. Earnings dates: Nasdaq earnings calendar.
Related
All pairs →Other rivals of WCN and WM
Follow the research behind the paper book
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Explore the private betaPaper only: hypothetical paired positions with modelled costs. No broker, no orders, no real money. A historical simulation is a diagnostic, not proof of an edge. Not investment advice.
