CNXN vs FBYD: Correlation
How closely do PC Connection, Inc. (CNXN) and Falcon's Beyond Global, Inc. (FBYD) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNXN and FBYD?
Over the past 3 years, CNXN and FBYD moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.22 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -831.5 %².
FBYD is close to the least connected end of CNXN's tracked universe, ranking #9 of 12. Over the last 12 months FBYD came out ahead by 14.1 percentage points (+26.2% against +40.3%). Risk is not evenly split, since FBYD carries 5.0 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.
CNXN vs FBYD: side by side
| CNXN (PC Connection, Inc.) | FBYD (Falcon's Beyond Global, Inc.) | |
|---|---|---|
| 1-year return | +26.2% | +40.3% |
| 5-year return | +75.2% | n/a |
| Volatility (ann.) | 27.3% | 137.7% |
| Beta vs S&P 500 | 0.86 | 0.37 |
| Max drawdown (3Y) | -26.3% | -81.2% |
| Market cap | $2.0B | $0.5B |
| P/E (trailing) | 21.0 | – |
| Dividend yield | 0.88% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CNXN | FBYD |
|---|---|---|
| 2022 | +9.4% | – |
| 2023 | +44.3% | – |
| 2024 | +3.7% | -22.0% |
| 2025 | -15.8% | +87.8% |
| 2026 | +40.7% | -33.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNXN and FBYD good diversifiers for each other?
Yes. With a correlation of -0.22, CNXN and FBYD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNXN and FBYD?
The CNXN/FBYD correlation stands at -0.22 on a 3-year window (1 year: -0.21, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FBYD a good diversifier for CNXN?
Yes. With a correlation of -0.22, CNXN and FBYD have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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.
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Related comparisons
Hubs: CNXN correlations · FBYD correlations
