ENPH vs FRAF: Correlation
Enphase Energy, Inc. (ENPH) and Franklin Financial Services Corporation (FRAF) 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 ENPH and FRAF?
Across a 3-year window, the weekly returns of ENPH and FRAF correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.34) than the 3-year average (-0.20). Stretching to 5 years gives -0.11, with an annualized covariance of -455.3 %².
Among the 12 assets we track against ENPH, FRAF sits near the bottom by co-movement, at rank #10. Correlation aside, the last 12 months split them widely, with FRAF ahead by 32.3 points (+4.5% versus +36.8%). Note the risk asymmetry: ENPH runs 2.2 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.
ENPH vs FRAF: side by side
| ENPH (Enphase Energy, Inc.) | FRAF (Franklin Financial Services Corporation) | |
|---|---|---|
| 1-year return | +4.5% | +36.8% |
| 5-year return | -77.9% | +133.8% |
| Volatility (ann.) | 70.2% | 31.7% |
| Beta vs S&P 500 | 1.12 | 0.22 |
| Max drawdown (3Y) | -81.0% | -25.5% |
| Market cap | $5.2B | $0.3B |
| P/E (trailing) | 38.1 | 11.3 |
| Dividend yield | 0.00% | 2.14% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENPH | FRAF |
|---|---|---|
| 2022 | +44.8% | +13.5% |
| 2023 | -50.1% | -8.8% |
| 2024 | -48.0% | -1.4% |
| 2025 | -53.3% | +73.5% |
| 2026 | +22.5% | +25.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENPH and FRAF 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 ENPH and FRAF?
As of 2026-08-27, the correlation of weekly returns between ENPH and FRAF is -0.20 over 3 years, -0.34 over 1 year and -0.11 over 5 years.
Is FRAF a good diversifier for ENPH?
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/enph-vs-fraf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/enph-vs-fraf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ENPH correlations · FRAF correlations
