FGNX vs GWW: Correlation
FG Nexus Inc. (FGNX) and W. W. Grainger (GWW) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGNX and GWW?
On 3 years of weekly data the FGNX/GWW correlation comes out at -0.20, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.13 lands near the 3-year figure. The 5-year figure is -0.02, and annualized covariance runs at -478.4 %².
By 3-year correlation, GWW places #12 of the 18 assets tracked against FGNX. The last year tells two different stories: GWW led by 118.5 percentage points, -87.5% for FGNX against +31.0% for GWW. Risk is not evenly split, since FGNX carries 4.5 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.
FGNX vs GWW: side by side
| FGNX (FG Nexus Inc.) | GWW (W. W. Grainger) | |
|---|---|---|
| 1-year return | -87.5% | +31.0% |
| 5-year return | -98.8% | +219.4% |
| Volatility (ann.) | 105.1% | 23.3% |
| Beta vs S&P 500 | -0.07 | 0.74 |
| Max drawdown (3Y) | -97.9% | -24.5% |
| Market cap | – | $62.2B |
| P/E (trailing) | – | 34.0 |
| Dividend yield | 0.00% | 0.69% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FGNX | GWW |
|---|---|---|
| 2022 | -24.2% | +8.7% |
| 2023 | -43.9% | +50.5% |
| 2024 | -45.5% | +28.2% |
| 2025 | -87.4% | -3.4% |
| 2026 | -42.8% | +31.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGNX and GWW good diversifiers for each other?
Yes. With a correlation of -0.20, FGNX and GWW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FGNX and GWW?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.13 over the last year and -0.02 over 5 years.
Is GWW a good diversifier for FGNX?
Yes. With a correlation of -0.20, FGNX and GWW have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fgnx-vs-gww.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fgnx-vs-gww/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FGNX correlations · GWW correlations
