FERG vs PHAT: Correlation
How closely do Ferguson Enterprises (FERG) and Phathom Pharmaceuticals, Inc. (PHAT) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FERG and PHAT?
Over the past 3 years, FERG and PHAT moved with a correlation of 0.37, which is moderate. The link has loosened recently: the 1-year correlation (0.09) runs below the 3-year figure (0.37). Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 1150.3 %².
By 3-year correlation, PHAT places #23 of the 35 assets tracked against FERG. Their recent paths diverged sharply: over the last 12 months FERG outperformed by 29.2 percentage points (+1.1% for FERG against -28.1% for PHAT). One caveat on sizing: PHAT is 3.4 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.
FERG vs PHAT: side by side
| FERG (Ferguson Enterprises) | PHAT (Phathom Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +1.1% | -28.1% |
| 5-year return | +82.2% | -74.1% |
| Volatility (ann.) | 30.0% | 103.2% |
| Beta vs S&P 500 | 0.99 | 1.89 |
| Max drawdown (3Y) | -32.9% | -88.3% |
| Market cap | $45.1B | $0.7B |
| P/E (trailing) | 23.0 | – |
| Dividend yield | 1.80% | 0.00% |
| Sector / category | Industrials | US Listed |
Year-by-year returns
| Year | FERG | PHAT |
|---|---|---|
| 2022 | -27.2% | -43.0% |
| 2023 | +55.1% | -18.6% |
| 2024 | -8.6% | -11.1% |
| 2025 | +29.9% | +104.3% |
| 2026 | +6.4% | -46.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FERG and PHAT good diversifiers for each other?
Reasonably. At 0.37, FERG and PHAT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FERG and PHAT?
The FERG/PHAT correlation stands at 0.37 on a 3-year window (1 year: 0.09, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is PHAT a good diversifier for FERG?
Reasonably. At 0.37, FERG and PHAT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FERG correlations · PHAT correlations
