FEMY vs NI: Correlation
Femasys Inc. (FEMY) and NiSource (NI) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FEMY and NI?
Across a 3-year window, the weekly returns of FEMY and NI correlate at -0.22, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.24 versus -0.22 over 3 years. Stretching to 5 years gives -0.15, with an annualized covariance of -1959.4 %².
By 3-year correlation, NI places #15 of the 32 assets tracked against FEMY. Correlation aside, the last 12 months split them widely, with NI ahead by 60.3 points (-61.2% versus -0.9%). Note the risk asymmetry: FEMY runs 28.6 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.
FEMY vs NI: side by side
| FEMY (Femasys Inc.) | NI (NiSource) | |
|---|---|---|
| 1-year return | -61.2% | -0.9% |
| 5-year return | -98.0% | +94.6% |
| Volatility (ann.) | 509.3% | 17.8% |
| Beta vs S&P 500 | -0.49 | 0.26 |
| Max drawdown (3Y) | -97.2% | -16.7% |
| Market cap | – | $19.6B |
| P/E (trailing) | – | 21.9 |
| Dividend yield | 0.00% | 1.41% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | FEMY | NI |
|---|---|---|
| 2022 | -76.9% | +2.7% |
| 2023 | +8.3% | +0.5% |
| 2024 | +12.8% | +43.5% |
| 2025 | -47.6% | +16.8% |
| 2026 | -75.8% | +0.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FEMY and NI good diversifiers for each other?
Yes. With a correlation of -0.22, FEMY and NI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FEMY and NI?
As of 2026-08-27, the correlation of weekly returns between FEMY and NI is -0.22 over 3 years, 0.24 over 1 year and -0.15 over 5 years.
Is NI a good diversifier for FEMY?
Yes. With a correlation of -0.22, FEMY and NI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/femy-vs-ni.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/femy-vs-ni/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FEMY correlations · NI correlations
