AGX vs FRNM: Correlation
Argan, Inc. (AGX) and Freenome, Inc. (FRNM) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGX and FRNM?
Across a 3-year window, the weekly returns of AGX and FRNM correlate at -0.30, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.43) runs below the 3-year figure (-0.30). Stretching to 5 years gives n/a, with an annualized covariance of -387.5 %².
FRNM is close to the least connected end of AGX's tracked universe, ranking #11 of 11. Correlation aside, the last 12 months split them widely, with AGX ahead by 71.4 points (+103.7% versus +32.3%). Risk is not evenly split, since AGX carries 2.6 times the volatility of the other side.
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.
AGX vs FRNM: side by side
| AGX (Argan, Inc.) | FRNM (Freenome, Inc.) | |
|---|---|---|
| 1-year return | +103.7% | +32.3% |
| 5-year return | +1008.1% | n/a |
| Volatility (ann.) | 55.9% | 21.1% |
| Beta vs S&P 500 | 0.92 | 0.03 |
| Max drawdown (3Y) | -43.7% | -29.6% |
| Market cap | $6.4B | $1.5B |
| P/E (trailing) | 40.4 | – |
| Dividend yield | 0.41% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGX | FRNM |
|---|---|---|
| 2022 | -2.0% | – |
| 2023 | +30.2% | – |
| 2024 | +198.3% | – |
| 2025 | +130.6% | +28.0% |
| 2026 | +47.2% | +7.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGX and FRNM good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between AGX and FRNM?
As of 2026-08-27, the correlation of weekly returns between AGX and FRNM is -0.30 over 3 years, -0.43 over 1 year and n/a over 5 years.
Is FRNM a good diversifier for AGX?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
On the −1 to +1 scale, -0.30 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/agx-vs-frnm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/agx-vs-frnm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGX correlations · FRNM correlations
