EQ vs FRAF: Correlation
Equillium, Inc. (EQ) and Franklin Financial Services Corporation (FRAF) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQ and FRAF?
Over the past 3 years, EQ and FRAF moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.22 over 1 year against -0.21 over 3. Over 5 years the correlation is -0.11, and the annualized covariance of weekly returns is -983.6 %².
FRAF is close to the least connected end of EQ's tracked universe, ranking #12 of 13. Over the last 12 months FRAF came out ahead by 8.5 percentage points (+28.3% against +36.8%). Note the risk asymmetry: EQ runs 4.7 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.
EQ vs FRAF: side by side
| EQ (Equillium, Inc.) | FRAF (Franklin Financial Services Corporation) | |
|---|---|---|
| 1-year return | +28.3% | +36.8% |
| 5-year return | -60.0% | +133.8% |
| Volatility (ann.) | 147.8% | 31.7% |
| Beta vs S&P 500 | 0.03 | 0.22 |
| Max drawdown (3Y) | -90.3% | -25.5% |
| Market cap | $0.2B | $0.3B |
| P/E (trailing) | – | 11.3 |
| Dividend yield | 0.00% | 2.14% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQ | FRAF |
|---|---|---|
| 2022 | -71.9% | +13.5% |
| 2023 | -32.1% | -8.8% |
| 2024 | +4.2% | -1.4% |
| 2025 | +106.7% | +73.5% |
| 2026 | +58.1% | +25.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQ and FRAF good diversifiers for each other?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQ and FRAF?
The EQ/FRAF correlation stands at -0.21 on a 3-year window (1 year: -0.22, 5 years: -0.11), computed from weekly returns as of 2026-08-27.
Is FRAF a good diversifier for EQ?
By historical standards, yes. A correlation of -0.21 means the two rarely move for the same reasons.
What does a correlation of -0.21 mean?
A reading of -0.21 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eq-vs-fraf.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eq-vs-fraf/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQ correlations · FRAF correlations
