FGI vs NXPL: Correlation
Measured on weekly returns over the past three years, FGI Industries Ltd. (FGI) and NextPlat Corp (NXPL) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGI and NXPL?
On 3 years of weekly data the FGI/NXPL correlation comes out at 0.39, moderate. The past 12 months show a tighter link (0.61) than the 3-year average (0.39). The 5-year figure is 0.25, and annualized covariance runs at 3794.4 %².
Within FGI's tracked universe of 13 assets, NXPL comes in at #7 by 3-year correlation. The last year tells two different stories: FGI led by 55.5 percentage points, +75.0% for FGI against +19.5% for NXPL. One caveat on sizing: FGI is 1.9 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.
FGI vs NXPL: side by side
| FGI (FGI Industries Ltd.) | NXPL (NextPlat Corp) | |
|---|---|---|
| 1-year return | +75.0% | +19.5% |
| 5-year return | -61.6% | -85.7% |
| Volatility (ann.) | 133.7% | 71.9% |
| Beta vs S&P 500 | 1.29 | 1.10 |
| Max drawdown (3Y) | -72.6% | -84.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FGI | NXPL |
|---|---|---|
| 2022 | – | -61.1% |
| 2023 | -23.7% | +31.0% |
| 2024 | -52.7% | -34.5% |
| 2025 | +47.1% | -50.9% |
| 2026 | +31.4% | +75.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGI and NXPL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FGI and NXPL?
As of 2026-08-27, the correlation of weekly returns between FGI and NXPL is 0.39 over 3 years, 0.61 over 1 year and 0.25 over 5 years.
Is NXPL a good diversifier for FGI?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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/fgi-vs-nxpl.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fgi-vs-nxpl/)
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Related comparisons
Hubs: FGI correlations · NXPL correlations
