CB vs FWDI: Correlation
Chubb Limited (CB) and Forward Industries, Inc. (FWDI) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CB and FWDI?
Over the past 3 years, CB and FWDI moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.23 over 1 year against -0.21 over 3. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -458.7 %².
Within CB's tracked universe of 37 assets, FWDI comes in at #28 by 3-year correlation. Correlation aside, the last 12 months split them widely, with CB ahead by 74.8 points (+24.7% versus -50.1%). Risk is not evenly split, since FWDI carries 7.0 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.
CB vs FWDI: side by side
| CB (Chubb Limited) | FWDI (Forward Industries, Inc.) | |
|---|---|---|
| 1-year return | +24.7% | -50.1% |
| 5-year return | +96.8% | -73.8% |
| Volatility (ann.) | 17.7% | 123.1% |
| Beta vs S&P 500 | 0.17 | -0.00 |
| Max drawdown (3Y) | -14.4% | -90.9% |
| Market cap | $130.5B | $0.5B |
| P/E (trailing) | 12.2 | – |
| Dividend yield | 1.14% | 0.00% |
| Sector / category | Financials | US Listed |
Year-by-year returns
| Year | CB | FWDI |
|---|---|---|
| 2022 | +16.0% | -31.4% |
| 2023 | +4.2% | -31.8% |
| 2024 | +23.9% | -32.2% |
| 2025 | +13.7% | +33.5% |
| 2026 | +9.1% | +0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CB and FWDI good diversifiers for each other?
Yes. With a correlation of -0.21, CB and FWDI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CB and FWDI?
The CB/FWDI correlation stands at -0.21 on a 3-year window (1 year: -0.23, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is FWDI a good diversifier for CB?
Yes. With a correlation of -0.21, CB and FWDI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
On the −1 to +1 scale, -0.21 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/cb-vs-fwdi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cb-vs-fwdi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CB correlations · FWDI correlations
