DUK vs FRNM: Correlation
Duke Energy (DUK) and Freenome, Inc. (FRNM) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DUK and FRNM?
Over the past 3 years, DUK and FRNM moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.37 over 1 year against -0.28 over 3. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -92.9 %².
FRNM is close to the least connected end of DUK's tracked universe, ranking #49 of 53. Correlation aside, the last 12 months split them widely, with FRNM ahead by 31.2 points (+1.1% versus +32.3%).
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.
DUK vs FRNM: side by side
| DUK (Duke Energy) | FRNM (Freenome, Inc.) | |
|---|---|---|
| 1-year return | +1.1% | +32.3% |
| 5-year return | +39.8% | n/a |
| Volatility (ann.) | 15.9% | 21.1% |
| Beta vs S&P 500 | -0.09 | 0.03 |
| Max drawdown (3Y) | -11.6% | -29.6% |
| Market cap | $94.2B | $1.5B |
| P/E (trailing) | 18.3 | – |
| Dividend yield | 3.49% | 0.00% |
| Sector / category | Utilities | US Listed |
Year-by-year returns
| Year | DUK | FRNM |
|---|---|---|
| 2022 | +2.0% | – |
| 2023 | -1.6% | – |
| 2024 | +15.6% | – |
| 2025 | +12.7% | +28.0% |
| 2026 | +5.8% | +7.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DUK and FRNM good diversifiers for each other?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
FAQ
What is the correlation between DUK and FRNM?
The DUK/FRNM correlation stands at -0.28 on a 3-year window (1 year: -0.37, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FRNM a good diversifier for DUK?
By historical standards, yes. A correlation of -0.28 means the two rarely move for the same reasons.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/duk-vs-frnm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/duk-vs-frnm/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DUK correlations · FRNM correlations
