CHD vs FWDI: Correlation
Church & Dwight (CHD) and Forward Industries, Inc. (FWDI) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CHD and FWDI?
Over the past 3 years, CHD and FWDI moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.12 lands near the 3-year figure. Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -480.1 %².
FWDI is close to the least connected end of CHD's tracked universe, ranking #24 of 27. Correlation aside, the last 12 months split them widely, with CHD ahead by 61.6 points (+11.5% versus -50.1%). One caveat on sizing: FWDI is 7.0 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.
CHD vs FWDI: side by side
| CHD (Church & Dwight) | FWDI (Forward Industries, Inc.) | |
|---|---|---|
| 1-year return | +11.5% | -50.1% |
| 5-year return | +30.0% | -73.8% |
| Volatility (ann.) | 17.6% | 123.1% |
| Beta vs S&P 500 | 0.07 | -0.00 |
| Max drawdown (3Y) | -27.3% | -90.9% |
| Market cap | $24.3B | $0.5B |
| P/E (trailing) | 33.0 | – |
| Dividend yield | 1.17% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | CHD | FWDI |
|---|---|---|
| 2022 | -20.4% | -31.4% |
| 2023 | +18.7% | -31.8% |
| 2024 | +12.0% | -32.2% |
| 2025 | -18.9% | +33.5% |
| 2026 | +23.2% | +0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CHD and FWDI good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between CHD and FWDI?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.12 over the last year and -0.13 over 5 years.
Is FWDI a good diversifier for CHD?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 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/chd-vs-fwdi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/chd-vs-fwdi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CHD correlations · FWDI correlations
