DD vs FWDI: Correlation
DuPont (DD) and Forward Industries, Inc. (FWDI) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DD and FWDI?
Across a 3-year window, the weekly returns of DD and FWDI correlate at -0.19, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.15 lands near the 3-year figure. Stretching to 5 years gives -0.10, with an annualized covariance of -679.0 %².
Within DD's tracked universe of 34 assets, FWDI comes in at #26 by 3-year correlation. The last year tells two different stories: DD led by 94.8 percentage points, +44.7% for DD against -50.1% for FWDI. Note the risk asymmetry: FWDI runs 4.3 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
DD vs FWDI: side by side
| DD (DuPont) | FWDI (Forward Industries, Inc.) | |
|---|---|---|
| 1-year return | +44.7% | -50.1% |
| 5-year return | +64.0% | -73.8% |
| Volatility (ann.) | 28.8% | 123.1% |
| Beta vs S&P 500 | 0.93 | -0.00 |
| Max drawdown (3Y) | -37.8% | -90.9% |
| Market cap | $18.7B | $0.5B |
| P/E (trailing) | 59.1 | – |
| Dividend yield | 2.20% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | DD | FWDI |
|---|---|---|
| 2022 | -13.4% | -31.4% |
| 2023 | +14.4% | -31.8% |
| 2024 | +1.0% | -32.2% |
| 2025 | +28.7% | +33.5% |
| 2026 | +16.0% | +0.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DD and FWDI good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between DD and FWDI?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.15 over the last year and -0.10 over 5 years.
Is FWDI a good diversifier for DD?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
A reading of -0.19 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/dd-vs-fwdi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dd-vs-fwdi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DD correlations · FWDI correlations
