FA vs FLYW: Correlation
First Advantage Corporation (FA) and Flywire Corporation - Voting (FLYW) show a moderate relationship: their 3-year correlation of weekly returns is 0.51.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FA and FLYW?
Over the past 3 years, FA and FLYW moved with a correlation of 0.51, which is moderate. The link has tightened recently: the 1-year correlation (0.73) runs above the 3-year figure (0.51). Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 1256.1 %².
Among the 16 assets we track against FA, FLYW ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FLYW outperformed by 16.1 percentage points (+27.0% for FA against +43.1% for FLYW).
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.
FA vs FLYW: side by side
| FA (First Advantage Corporation) | FLYW (Flywire Corporation - Voting) | |
|---|---|---|
| 1-year return | +27.0% | +43.1% |
| 5-year return | +6.1% | -57.5% |
| Volatility (ann.) | 45.8% | 54.1% |
| Beta vs S&P 500 | 1.18 | 1.13 |
| Max drawdown (3Y) | -55.9% | -75.7% |
| Market cap | $3.6B | $2.3B |
| P/E (trailing) | 139.5 | 69.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FA | FLYW |
|---|---|---|
| 2022 | -31.7% | -35.7% |
| 2023 | +41.5% | -5.4% |
| 2024 | +13.0% | -10.9% |
| 2025 | -22.4% | -31.3% |
| 2026 | +44.0% | +32.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FA and FLYW good diversifiers for each other?
Only partially. A correlation of 0.51 means FA and FLYW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between FA and FLYW?
As of 2026-08-27, the correlation of weekly returns between FA and FLYW is 0.51 over 3 years, 0.73 over 1 year and 0.50 over 5 years.
Is FLYW a good diversifier for FA?
Only partially. A correlation of 0.51 means FA and FLYW share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.51 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/fa-vs-flyw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fa-vs-flyw/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FA correlations · FLYW correlations
