WavPack compression (.WV files) can compress (and restore) 8-, 16-, 24-, and 32-bit fixed-point, and 32-bit floating point audio files in the .WAV file format. It also supports surround sound streams and high frequency sampling rates. Like other lossless compression schemes, the data reduction rate varies with the source, but it is generally between 30% and 70% for typical popular music and somewhat better than that for classical music and other sources with greater dynamic range.
WavPack also incorporates a "hybrid" mode which still provides the features of lossless compression, but it creates two files: a relatively small, high-quality, lossy file (.wv) that can be used by itself; and a "correction" file (.wvc) that, when combined with the lossy file, provides full lossless restoration. This allows the use of lossy and lossless codecs together.