FG vs MRNA: Correlation
F&G Annuities & Life, Inc. (FG) and Moderna (MRNA) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FG and MRNA?
Across a 3-year window, the weekly returns of FG and MRNA correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.49 versus -0.24 over 3 years. Stretching to 5 years gives -0.21, with an annualized covariance of -1006.9 %².
MRNA is close to the least connected end of FG's tracked universe, ranking #10 of 13. Their recent paths diverged sharply: over the last 12 months MRNA outperformed by 498.5 percentage points (-29.7% for FG against +468.8% for MRNA). Note the risk asymmetry: MRNA runs 2.4 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.
FG vs MRNA: side by side
| FG (F&G Annuities & Life, Inc.) | MRNA (Moderna) | |
|---|---|---|
| 1-year return | -29.7% | +468.8% |
| 5-year return | n/a | -61.5% |
| Volatility (ann.) | 42.0% | 100.7% |
| Beta vs S&P 500 | 1.02 | 0.98 |
| Max drawdown (3Y) | -56.2% | -86.6% |
| Market cap | $3.1B | $57.0B |
| P/E (trailing) | 7.7 | – |
| Dividend yield | 4.27% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | FG | MRNA |
|---|---|---|
| 2022 | – | -29.3% |
| 2023 | +137.1% | -44.6% |
| 2024 | -8.0% | -58.2% |
| 2025 | -23.6% | -29.1% |
| 2026 | -22.0% | +384.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FG and MRNA good diversifiers for each other?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
FAQ
What is the correlation between FG and MRNA?
As of 2026-08-27, the correlation of weekly returns between FG and MRNA is -0.24 over 3 years, -0.49 over 1 year and -0.21 over 5 years.
Is MRNA a good diversifier for FG?
By historical standards, yes. A correlation of -0.24 means the two rarely move for the same reasons.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/fg-vs-mrna.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fg-vs-mrna/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FG correlations · MRNA correlations
