FEMY vs IIM: Correlation
Femasys Inc. (FEMY) and Invesco Value Municipal Income Trust (IIM) show a negative relationship: their 3-year correlation of weekly returns is -0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FEMY and IIM?
Over the past 3 years, FEMY and IIM moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.17 over 1 year against -0.26 over 3. Over 5 years the correlation is -0.16, and the annualized covariance of weekly returns is -1651.5 %².
Within FEMY's tracked universe of 32 assets, IIM comes in at #20 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IIM outperformed by 77.7 percentage points (-61.2% for FEMY against +16.5% for IIM). Note the risk asymmetry: FEMY runs 40.1 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.
FEMY vs IIM: side by side
| FEMY (Femasys Inc.) | IIM (Invesco Value Municipal Income Trust) | |
|---|---|---|
| 1-year return | -61.2% | +16.5% |
| 5-year return | -98.0% | +0.6% |
| Volatility (ann.) | 509.3% | 12.7% |
| Beta vs S&P 500 | -0.49 | 0.31 |
| Max drawdown (3Y) | -97.2% | -13.2% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 31.6 |
| Dividend yield | 0.00% | 7.32% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FEMY | IIM |
|---|---|---|
| 2022 | -76.9% | -25.4% |
| 2023 | +8.3% | +2.1% |
| 2024 | +12.8% | +8.1% |
| 2025 | -47.6% | +11.9% |
| 2026 | -75.8% | +7.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FEMY and IIM good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between FEMY and IIM?
The FEMY/IIM correlation stands at -0.26 on a 3-year window (1 year: -0.17, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is IIM a good diversifier for FEMY?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 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
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Related comparisons
Hubs: FEMY correlations · IIM correlations
