ALKT vs FWONA: Correlation
How closely do Alkami Technology, Inc. (ALKT) and Liberty Media Corporation - Series A Liberty Formula One (FWONA) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALKT and FWONA?
On 3 years of weekly data the ALKT/FWONA correlation comes out at 0.39, moderate. Recent behaviour matches the longer record: 0.35 over 1 year against 0.39 over 3. The 5-year figure is 0.37, and annualized covariance runs at 449.1 %².
Among the 11 assets we track against ALKT, FWONA sits near the bottom by co-movement, at rank #7. Their recent paths diverged sharply: over the last 12 months FWONA outperformed by 24.2 percentage points (-19.5% for ALKT against +4.7% for FWONA). Risk is not evenly split, since ALKT carries 1.8 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.
ALKT vs FWONA: side by side
| ALKT (Alkami Technology, Inc.) | FWONA (Liberty Media Corporation - Series A Liberty Formula One) | |
|---|---|---|
| 1-year return | -19.5% | +4.7% |
| 5-year return | -28.5% | +116.6% |
| Volatility (ann.) | 45.4% | 25.1% |
| Beta vs S&P 500 | 1.31 | 0.58 |
| Max drawdown (3Y) | -65.4% | -25.7% |
| Market cap | $2.2B | $23.6B |
| P/E (trailing) | – | 117.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALKT | FWONA |
|---|---|---|
| 2022 | -27.3% | -10.0% |
| 2023 | +66.2% | +13.3% |
| 2024 | +51.3% | +44.9% |
| 2025 | -37.1% | +6.4% |
| 2026 | -11.8% | +5.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALKT and FWONA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALKT and FWONA?
The ALKT/FWONA correlation stands at 0.39 on a 3-year window (1 year: 0.35, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is FWONA a good diversifier for ALKT?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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: ALKT correlations · FWONA correlations
