EFOI vs IIIN: Correlation
Energy Focus, Inc. (EFOI) and Insteel Industries, Inc. (IIIN) show a negative relationship: their 3-year correlation of weekly returns is -0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EFOI and IIIN?
Over the past 3 years, EFOI and IIIN moved with a correlation of -0.34, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.66 versus -0.34 over 3 years. Over 5 years the correlation is -0.22, and the annualized covariance of weekly returns is -2127.4 %².
Among the 17 assets we track against EFOI, IIIN sits near the bottom by co-movement, at rank #16. The last year tells two different stories: EFOI led by 31.4 percentage points, +13.2% for EFOI against -18.2% for IIIN. One caveat on sizing: EFOI is 4.0 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.
EFOI vs IIIN: side by side
| EFOI (Energy Focus, Inc.) | IIIN (Insteel Industries, Inc.) | |
|---|---|---|
| 1-year return | +13.2% | -18.2% |
| 5-year return | -87.5% | +6.5% |
| Volatility (ann.) | 158.7% | 39.5% |
| Beta vs S&P 500 | 1.96 | 0.99 |
| Max drawdown (3Y) | -58.2% | -37.0% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 16.3 |
| Dividend yield | 0.00% | 0.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EFOI | IIIN |
|---|---|---|
| 2022 | -92.5% | -25.6% |
| 2023 | -32.6% | +50.0% |
| 2024 | -21.2% | -26.8% |
| 2025 | +94.1% | +21.5% |
| 2026 | +25.5% | -3.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EFOI and IIIN good diversifiers for each other?
Yes. With a correlation of -0.34, EFOI and IIIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EFOI and IIIN?
Using weekly returns as of 2026-08-27: -0.34 over 3 years, with -0.66 over the last year and -0.22 over 5 years.
Is IIIN a good diversifier for EFOI?
Yes. With a correlation of -0.34, EFOI and IIIN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.34 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/efoi-vs-iiin.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/efoi-vs-iiin/)
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Related comparisons
Hubs: EFOI correlations · IIIN correlations
