FGI vs RMCF: Correlation
Measured on weekly returns over the past three years, FGI Industries Ltd. (FGI) and Rocky Mountain Chocolate Factory, Inc. (RMCF) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGI and RMCF?
Across a 3-year window, the weekly returns of FGI and RMCF correlate at 0.43, moderate. The past 12 months show a tighter link (0.66) than the 3-year average (0.43). Stretching to 5 years gives 0.39, with an annualized covariance of 3903.9 %².
Among the 13 assets we track against FGI, RMCF ranks #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FGI outperformed by 94.9 percentage points (+75.0% for FGI against -19.9% for RMCF). Risk is not evenly split, since FGI carries 2.0 times the volatility of the other side.
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 RMCF: side by side
| FGI (FGI Industries Ltd.) | RMCF (Rocky Mountain Chocolate Factory, Inc.) | |
|---|---|---|
| 1-year return | +75.0% | -19.9% |
| 5-year return | -61.6% | -84.3% |
| Volatility (ann.) | 133.7% | 68.5% |
| Beta vs S&P 500 | 1.29 | 0.77 |
| Max drawdown (3Y) | -72.6% | -87.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FGI | RMCF |
|---|---|---|
| 2022 | – | -27.4% |
| 2023 | -23.7% | -19.3% |
| 2024 | -52.7% | -47.2% |
| 2025 | +47.1% | -21.8% |
| 2026 | +31.4% | -38.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGI and RMCF good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FGI and RMCF?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.66 over the last year and 0.39 over 5 years.
Is RMCF a good diversifier for FGI?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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.
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Related comparisons
Hubs: FGI correlations · RMCF correlations
