FCEL vs TAP: Correlation
FuelCell Energy, Inc. (FCEL) and Molson Coors Beverage Company (TAP) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FCEL and TAP?
Over the past 3 years, FCEL and TAP moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -511.8 %².
TAP is close to the least connected end of FCEL's tracked universe, ranking #8 of 11. The last year tells two different stories: FCEL led by 358.1 percentage points, +343.1% for FCEL against -15.0% for TAP. Note the risk asymmetry: FCEL runs 4.6 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.
FCEL vs TAP: side by side
| FCEL (FuelCell Energy, Inc.) | TAP (Molson Coors Beverage Company) | |
|---|---|---|
| 1-year return | +343.1% | -15.0% |
| 5-year return | -89.6% | +3.9% |
| Volatility (ann.) | 109.1% | 23.9% |
| Beta vs S&P 500 | 1.17 | 0.15 |
| Max drawdown (3Y) | -93.0% | -38.8% |
| Market cap | $1.5B | $7.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 4.51% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | FCEL | TAP |
|---|---|---|
| 2022 | -46.5% | +14.4% |
| 2023 | -42.4% | +22.2% |
| 2024 | -81.2% | -3.4% |
| 2025 | -19.1% | -15.5% |
| 2026 | +164.3% | -8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FCEL and TAP good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between FCEL and TAP?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.27 over the last year and -0.04 over 5 years.
Is TAP a good diversifier for FCEL?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 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/fcel-vs-tap.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fcel-vs-tap/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FCEL correlations · TAP correlations
