ETN vs FN: Correlation
Measured on weekly returns over the past three years, Eaton Corporation (ETN) and Fabrinet (FN) carry a correlation of 0.58, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETN and FN?
Across a 3-year window, the weekly returns of ETN and FN correlate at 0.58, moderate. Recent behaviour matches the longer record: 0.57 over 1 year against 0.58 over 3. Stretching to 5 years gives 0.56, with an annualized covariance of 966.7 %².
Among the 44 assets we track against ETN, FN ranks #21 by 3-year correlation. The trailing year gives FN the advantage: +19.7% versus +30.2%, a 10.5-point spread. Risk is not evenly split, since FN carries 1.8 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.
ETN vs FN: side by side
| ETN (Eaton Corporation) | FN (Fabrinet) | |
|---|---|---|
| 1-year return | +19.7% | +30.2% |
| 5-year return | +164.1% | +317.1% |
| Volatility (ann.) | 30.2% | 55.4% |
| Beta vs S&P 500 | 1.33 | 1.97 |
| Max drawdown (3Y) | -34.5% | -44.5% |
| Market cap | $161.6B | $15.5B |
| P/E (trailing) | 42.4 | 33.2 |
| Dividend yield | 1.02% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | ETN | FN |
|---|---|---|
| 2022 | -7.2% | +8.2% |
| 2023 | +56.2% | +48.4% |
| 2024 | +39.5% | +15.5% |
| 2025 | -2.8% | +107.1% |
| 2026 | +31.7% | -5.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETN and FN good diversifiers for each other?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between ETN and FN?
As of 2026-08-27, the correlation of weekly returns between ETN and FN is 0.58 over 3 years, 0.57 over 1 year and 0.56 over 5 years.
Is FN a good diversifier for ETN?
Somewhat, no more. With 0.58 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.58 mean?
On the −1 to +1 scale, 0.58 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/etn-vs-fn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/etn-vs-fn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ETN correlations · FN correlations
