EXOD vs FLG: Correlation
Measured on weekly returns over the past three years, Exodus Movement, Inc. (EXOD) and Flagstar Bank, N.A. (FLG) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EXOD and FLG?
Over the past 3 years, EXOD and FLG moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.12 versus -0.29 over 3 years. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -2973.1 %².
FLG is close to the least connected end of EXOD's tracked universe, ranking #18 of 18. Their recent paths diverged sharply: over the last 12 months FLG outperformed by 70.8 percentage points (-65.9% for EXOD against +4.9% for FLG). Note the risk asymmetry: EXOD runs 3.8 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.
EXOD vs FLG: side by side
| EXOD (Exodus Movement, Inc.) | FLG (Flagstar Bank, N.A.) | |
|---|---|---|
| 1-year return | -65.9% | +4.9% |
| 5-year return | -64.9% | -57.2% |
| Volatility (ann.) | 196.6% | 52.0% |
| Beta vs S&P 500 | 0.78 | 0.84 |
| Max drawdown (3Y) | -94.8% | -77.9% |
| Market cap | $0.3B | $5.6B |
| P/E (trailing) | – | 448.3 |
| Dividend yield | 0.00% | 0.29% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EXOD | FLG |
|---|---|---|
| 2022 | -89.5% | -24.5% |
| 2023 | +12.2% | +26.9% |
| 2024 | +1233.9% | -69.1% |
| 2025 | -51.8% | +35.4% |
| 2026 | -37.2% | +7.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EXOD and FLG good diversifiers for each other?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EXOD and FLG?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with 0.12 over the last year and -0.16 over 5 years.
Is FLG a good diversifier for EXOD?
Yes: at -0.29, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.29 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/exod-vs-flg.json
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Related comparisons
Hubs: EXOD correlations · FLG correlations
