EMA vs FEMY: Correlation
Emera Incorporated (EMA) and Femasys Inc. (FEMY) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EMA and FEMY?
On 3 years of weekly data the EMA/FEMY correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.05 versus -0.20 over 3 years. The 5-year figure is -0.14, and annualized covariance runs at -1808.5 %².
Among the 11 assets we track against EMA, FEMY sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with EMA ahead by 68.7 points (+7.5% versus -61.2%). Risk is not evenly split, since FEMY carries 29.3 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.
EMA vs FEMY: side by side
| EMA (Emera Incorporated) | FEMY (Femasys Inc.) | |
|---|---|---|
| 1-year return | +7.5% | -61.2% |
| 5-year return | +34.4% | -98.0% |
| Volatility (ann.) | 17.4% | 509.3% |
| Beta vs S&P 500 | 0.10 | -0.49 |
| Max drawdown (3Y) | -19.6% | -97.2% |
| Market cap | $15.4B | – |
| P/E (trailing) | 22.2 | – |
| Dividend yield | 5.77% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EMA | FEMY |
|---|---|---|
| 2022 | -19.3% | -76.9% |
| 2023 | +3.5% | +8.3% |
| 2024 | +6.3% | +12.8% |
| 2025 | +36.6% | -47.6% |
| 2026 | +3.6% | -75.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EMA and FEMY good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EMA and FEMY?
As of 2026-08-27, the correlation of weekly returns between EMA and FEMY is -0.20 over 3 years, 0.05 over 1 year and -0.14 over 5 years.
Is FEMY a good diversifier for EMA?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 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.
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Related comparisons
Hubs: EMA correlations · FEMY correlations
