ALKS vs FISI: Correlation
How closely do Alkermes plc (ALKS) and Financial Institutions, Inc. (FISI) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALKS and FISI?
Over the past 3 years, ALKS and FISI moved with a correlation of 0.42, which is moderate. The link has loosened recently: the 1-year correlation (0.25) runs below the 3-year figure (0.42). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 524.2 %².
In ALKS's tracked universe of 11 assets, FISI sits right near the top at #3. The trailing year gives ALKS the advantage: +67.2% versus +54.3%, a 12.9-point spread.
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.
ALKS vs FISI: side by side
| ALKS (Alkermes plc) | FISI (Financial Institutions, Inc.) | |
|---|---|---|
| 1-year return | +67.2% | +54.3% |
| 5-year return | +55.7% | +65.6% |
| Volatility (ann.) | 39.0% | 31.9% |
| Beta vs S&P 500 | 0.62 | 0.93 |
| Max drawdown (3Y) | -29.3% | -27.8% |
| Market cap | $8.2B | $0.8B |
| P/E (trailing) | 128.7 | 10.1 |
| Dividend yield | 0.00% | 3.09% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALKS | FISI |
|---|---|---|
| 2022 | +12.3% | -20.0% |
| 2023 | +6.2% | -6.8% |
| 2024 | +3.7% | +35.5% |
| 2025 | -2.7% | +19.5% |
| 2026 | +74.8% | +33.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALKS and FISI good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALKS and FISI?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.25 over the last year and 0.29 over 5 years.
Is FISI a good diversifier for ALKS?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ALKS correlations · FISI correlations
