FC vs VATE: Correlation
How closely do Franklin Covey Company (FC) and INNOVATE Corp. (VATE) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FC and VATE?
Over the past 3 years, FC and VATE moved with a correlation of 0.40, which is moderate. The link has tightened recently: the 1-year correlation (0.58) runs above the 3-year figure (0.40). Over 5 years the correlation is 0.33, and the annualized covariance of weekly returns is 2584.3 %².
Among the 15 assets we track against FC, VATE ranks #9 by 3-year correlation. The last year tells two different stories: VATE led by 42.4 percentage points, +3.4% for FC against +45.8% for VATE. One caveat on sizing: VATE is 2.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FC vs VATE: side by side
| FC (Franklin Covey Company) | VATE (INNOVATE Corp.) | |
|---|---|---|
| 1-year return | +3.4% | +45.8% |
| 5-year return | -52.7% | -79.2% |
| Volatility (ann.) | 52.1% | 122.7% |
| Beta vs S&P 500 | 1.11 | 2.14 |
| Max drawdown (3Y) | -74.0% | -81.0% |
| Market cap | – | $0.1B |
| P/E (trailing) | 135.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FC | VATE |
|---|---|---|
| 2022 | +0.9% | -49.5% |
| 2023 | -6.9% | -34.2% |
| 2024 | -13.7% | -59.8% |
| 2025 | -55.3% | -8.5% |
| 2026 | +21.3% | +71.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FC and VATE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FC and VATE?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.58 over the last year and 0.33 over 5 years.
Is VATE a good diversifier for FC?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/fc-vs-vate.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fc-vs-vate/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FC correlations · VATE correlations
