CIIT vs FNWD: Correlation
How closely do Tianci International, Inc. (CIIT) and Finward Bancorp (FNWD) trade together? Their weekly returns over three years give a correlation of 0.49, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CIIT and FNWD?
Across a 3-year window, the weekly returns of CIIT and FNWD correlate at 0.49, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.69 versus 0.49 over 3 years. Stretching to 5 years gives 0.36, with an annualized covariance of 8971.3 %².
By 3-year correlation, FNWD places #10 of the 27 assets tracked against CIIT. The last year tells two different stories: FNWD led by 71.5 percentage points, -34.5% for CIIT against +37.0% for FNWD. Risk is not evenly split, since CIIT carries 24.9 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.
CIIT vs FNWD: side by side
| CIIT (Tianci International, Inc.) | FNWD (Finward Bancorp) | |
|---|---|---|
| 1-year return | -34.5% | +37.0% |
| 5-year return | -77.6% | +17.8% |
| Volatility (ann.) | 673.6% | 27.1% |
| Beta vs S&P 500 | -2.24 | 0.12 |
| Max drawdown (3Y) | -99.2% | -23.5% |
| Market cap | – | $0.2B |
| P/E (trailing) | – | 19.2 |
| Dividend yield | 0.00% | 1.11% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CIIT | FNWD |
|---|---|---|
| 2022 | +36.4% | -18.5% |
| 2023 | -44.8% | -27.6% |
| 2024 | +383.1% | +13.4% |
| 2025 | -91.7% | +27.1% |
| 2026 | +41.6% | +23.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CIIT and FNWD good diversifiers for each other?
Reasonably. At 0.49, CIIT and FNWD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CIIT and FNWD?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.69 over the last year and 0.36 over 5 years.
Is FNWD a good diversifier for CIIT?
Reasonably. At 0.49, CIIT and FNWD keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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/ciit-vs-fnwd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ciit-vs-fnwd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CIIT correlations · FNWD correlations
