ECHO vs FSI: Correlation
How closely do EchoStar (ECHO) and Flexible Solutions International Inc. (FSI) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ECHO and FSI?
Across a 3-year window, the weekly returns of ECHO and FSI correlate at 0.41, moderate. The link has loosened recently: the 1-year correlation (0.05) runs below the 3-year figure (0.41). Stretching to 5 years gives 0.34, with an annualized covariance of 2727.8 %².
In ECHO's tracked universe of 35 assets, FSI sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months ECHO outperformed by 85.6 percentage points (+47.2% for ECHO against -38.4% for FSI).
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.
ECHO vs FSI: side by side
| ECHO (EchoStar) | FSI (Flexible Solutions International Inc.) | |
|---|---|---|
| 1-year return | +47.2% | -38.4% |
| 5-year return | +227.3% | +71.9% |
| Volatility (ann.) | 91.1% | 73.1% |
| Beta vs S&P 500 | 1.17 | 1.39 |
| Max drawdown (3Y) | -50.1% | -56.4% |
| Market cap | $25.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Communication Services | US Listed |
Year-by-year returns
| Year | ECHO | FSI |
|---|---|---|
| 2022 | -36.7% | -20.3% |
| 2023 | -0.7% | -37.3% |
| 2024 | +38.2% | +89.0% |
| 2025 | +374.7% | +90.6% |
| 2026 | -20.5% | -11.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ECHO and FSI good diversifiers for each other?
Reasonably. At 0.41, ECHO and FSI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ECHO and FSI?
As of 2026-08-27, the correlation of weekly returns between ECHO and FSI is 0.41 over 3 years, 0.05 over 1 year and 0.34 over 5 years.
Is FSI a good diversifier for ECHO?
Reasonably. At 0.41, ECHO and FSI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/echo-vs-fsi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/echo-vs-fsi/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ECHO correlations · FSI correlations
