EQNR vs FEIM: Correlation
How closely do Equinor ASA (EQNR) and Frequency Electronics, Inc. (FEIM) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQNR and FEIM?
Across a 3-year window, the weekly returns of EQNR and FEIM correlate at -0.24, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.28 over 1 year against -0.24 over 3. Stretching to 5 years gives -0.12, with an annualized covariance of -574.5 %².
Among the 79 assets we track against EQNR, FEIM ranks #46 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FEIM ahead by 19.8 points (+77.2% versus +97.0%). Note the risk asymmetry: FEIM runs 2.1 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.
EQNR vs FEIM: side by side
| EQNR (Equinor ASA) | FEIM (Frequency Electronics, Inc.) | |
|---|---|---|
| 1-year return | +77.2% | +97.0% |
| 5-year return | +180.6% | +639.1% |
| Volatility (ann.) | 33.2% | 70.8% |
| Beta vs S&P 500 | -0.25 | 1.11 |
| Max drawdown (3Y) | -27.6% | -33.0% |
| Market cap | $98.6B | $0.7B |
| P/E (trailing) | 11.2 | – |
| Dividend yield | 3.73% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQNR | FEIM |
|---|---|---|
| 2022 | +42.8% | -29.4% |
| 2023 | -0.8% | +80.9% |
| 2024 | -16.0% | +83.2% |
| 2025 | +6.1% | +190.7% |
| 2026 | +81.8% | +18.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQNR and FEIM good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between EQNR and FEIM?
The EQNR/FEIM correlation stands at -0.24 on a 3-year window (1 year: -0.28, 5 years: -0.12), computed from weekly returns as of 2026-08-27.
Is FEIM a good diversifier for EQNR?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 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/eqnr-vs-feim.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqnr-vs-feim/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQNR correlations · FEIM correlations
