CISS vs FGI: Correlation
Measured on weekly returns over the past three years, C3is Inc. (CISS) and FGI Industries Ltd. (FGI) carry a correlation of 0.50, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CISS and FGI?
On 3 years of weekly data the CISS/FGI correlation comes out at 0.50, moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.50 over 3. The 5-year figure is n/a, and annualized covariance runs at 141300.3 %².
Within CISS's tracked universe of 42 assets, FGI comes in at #12 by 3-year correlation. The last year tells two different stories: FGI led by 174.5 percentage points, -99.5% for CISS against +75.0% for FGI. One caveat on sizing: CISS is 15.7 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.
CISS vs FGI: side by side
| CISS (C3is Inc.) | FGI (FGI Industries Ltd.) | |
|---|---|---|
| 1-year return | -99.5% | +75.0% |
| 5-year return | n/a | -61.6% |
| Volatility (ann.) | 2098.5% | 133.7% |
| Beta vs S&P 500 | 2.24 | 1.29 |
| Max drawdown (3Y) | -100.0% | -72.6% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CISS | FGI |
|---|---|---|
| 2023 | – | -23.7% |
| 2024 | -98.9% | -52.7% |
| 2025 | -97.3% | +47.1% |
| 2026 | -93.4% | +31.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CISS and FGI good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between CISS and FGI?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.57 over the last year and n/a over 5 years.
Is FGI a good diversifier for CISS?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 mean?
A reading of 0.50 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: CISS correlations · FGI correlations
