AGRO vs FRD: Correlation
Adecoagro S.A. (AGRO) and Friedman Industries Inc. (FRD) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGRO and FRD?
Across a 3-year window, the weekly returns of AGRO and FRD correlate at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.25 lands near the 3-year figure. Stretching to 5 years gives 0.03, with an annualized covariance of -402.9 %².
Among the 36 assets we track against AGRO, FRD ranks #16 by 3-year correlation. The last year tells two different stories: FRD led by 109.7 percentage points, +28.1% for AGRO against +137.8% for FRD.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
AGRO vs FRD: side by side
| AGRO (Adecoagro S.A.) | FRD (Friedman Industries Inc.) | |
|---|---|---|
| 1-year return | +28.1% | +137.8% |
| 5-year return | +29.1% | +282.9% |
| Volatility (ann.) | 41.7% | 50.1% |
| Beta vs S&P 500 | -0.27 | 1.10 |
| Max drawdown (3Y) | -41.3% | -34.6% |
| Market cap | $1.5B | $0.3B |
| P/E (trailing) | 28.9 | 11.7 |
| Dividend yield | 0.00% | 0.38% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGRO | FRD |
|---|---|---|
| 2022 | +11.5% | +5.3% |
| 2023 | +38.6% | +59.0% |
| 2024 | -12.4% | -0.3% |
| 2025 | -14.3% | +35.3% |
| 2026 | +36.0% | +120.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGRO and FRD good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between AGRO and FRD?
The AGRO/FRD correlation stands at -0.19 on a 3-year window (1 year: -0.25, 5 years: 0.03), computed from weekly returns as of 2026-08-27.
Is FRD a good diversifier for AGRO?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 mean?
A reading of -0.19 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/agro-vs-frd/)
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Related comparisons
Hubs: AGRO correlations · FRD correlations
