ASIX vs FLNC: Correlation
How closely do AdvanSix Inc. (ASIX) and Fluence Energy, Inc. (FLNC) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ASIX and FLNC?
Across a 3-year window, the weekly returns of ASIX and FLNC correlate at -0.19, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.47) runs below the 3-year figure (-0.19). Stretching to 5 years gives 0.01, with an annualized covariance of -969.5 %².
Out of 11 assets tracked against ASIX, FLNC lands near the bottom at #10. The last year tells two different stories: FLNC led by 75.5 percentage points, -18.5% for ASIX against +57.0% for FLNC. One caveat on sizing: FLNC is 2.4 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.
ASIX vs FLNC: side by side
| ASIX (AdvanSix Inc.) | FLNC (Fluence Energy, Inc.) | |
|---|---|---|
| 1-year return | -18.5% | +57.0% |
| 5-year return | -49.2% | -67.3% |
| Volatility (ann.) | 45.7% | 109.2% |
| Beta vs S&P 500 | 0.50 | 2.11 |
| Max drawdown (3Y) | -55.2% | -86.9% |
| Market cap | $0.4B | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 3.87% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ASIX | FLNC |
|---|---|---|
| 2022 | -18.5% | -51.8% |
| 2023 | -19.7% | +39.1% |
| 2024 | -2.7% | -33.4% |
| 2025 | -37.3% | +24.6% |
| 2026 | -3.0% | -42.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ASIX and FLNC good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ASIX and FLNC?
As of 2026-08-27, the correlation of weekly returns between ASIX and FLNC is -0.19 over 3 years, -0.47 over 1 year and 0.01 over 5 years.
Is FLNC a good diversifier for ASIX?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
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
$ curl https://www.pairbook.io/api/v1/pairs/asix-vs-flnc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/asix-vs-flnc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ASIX correlations · FLNC correlations
