EONR vs FMY: Correlation
How closely do EON Resources Inc. (EONR) and First Trust Mortgage Income Fund (FMY) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EONR and FMY?
Across a 3-year window, the weekly returns of EONR and FMY correlate at -0.31, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.62) runs below the 3-year figure (-0.31). Stretching to 5 years gives -0.24, with an annualized covariance of -418.8 %².
FMY is close to the least connected end of EONR's tracked universe, ranking #9 of 10. Correlation aside, the last 12 months split them widely, with EONR ahead by 47.8 points (+50.1% versus +2.3%). One caveat on sizing: EONR is 14.4 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.
EONR vs FMY: side by side
| EONR (EON Resources Inc.) | FMY (First Trust Mortgage Income Fund) | |
|---|---|---|
| 1-year return | +50.1% | +2.3% |
| 5-year return | -94.8% | +18.1% |
| Volatility (ann.) | 138.7% | 9.6% |
| Beta vs S&P 500 | -0.81 | 0.12 |
| Max drawdown (3Y) | -97.7% | -7.1% |
| Market cap | – | – |
| P/E (trailing) | – | 16.5 |
| Dividend yield | 0.00% | 6.94% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EONR | FMY |
|---|---|---|
| 2022 | – | -13.0% |
| 2023 | -80.2% | +16.1% |
| 2024 | -59.5% | +7.1% |
| 2025 | -53.2% | +8.6% |
| 2026 | +36.1% | +0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EONR and FMY good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EONR and FMY?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.62 over the last year and -0.24 over 5 years.
Is FMY a good diversifier for EONR?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/eonr-vs-fmy.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eonr-vs-fmy/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EONR correlations · FMY correlations
