ALAB vs FKWL: Correlation
Astera Labs, Inc. (ALAB) and Franklin Wireless Corp. (FKWL) show a negative relationship: their 3-year correlation of weekly returns is -0.23.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALAB and FKWL?
Across a 3-year window, the weekly returns of ALAB and FKWL correlate at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -662.4 %².
Among the 18 assets we track against ALAB, FKWL sits near the bottom by co-movement, at rank #14. The last year tells two different stories: ALAB led by 111.1 percentage points, +69.7% for ALAB against -41.4% for FKWL. One caveat on sizing: ALAB is 2.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ALAB vs FKWL: side by side
| ALAB (Astera Labs, Inc.) | FKWL (Franklin Wireless Corp.) | |
|---|---|---|
| 1-year return | +69.7% | -41.4% |
| 5-year return | n/a | -69.6% |
| Volatility (ann.) | 84.6% | 33.9% |
| Beta vs S&P 500 | 2.90 | 0.02 |
| Max drawdown (3Y) | -63.7% | -67.3% |
| Market cap | $52.8B | – |
| P/E (trailing) | 142.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALAB | FKWL |
|---|---|---|
| 2022 | – | +2.1% |
| 2023 | – | -24.0% |
| 2024 | – | +44.5% |
| 2025 | +25.6% | -10.1% |
| 2026 | +82.8% | -43.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALAB and FKWL good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ALAB and FKWL?
The ALAB/FKWL correlation stands at -0.23 on a 3-year window (1 year: -0.30, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FKWL a good diversifier for ALAB?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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
$ curl https://www.pairbook.io/api/v1/pairs/alab-vs-fkwl.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alab-vs-fkwl/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALAB correlations · FKWL correlations
