FGNX vs NAT: Correlation
FG Nexus Inc. (FGNX) and Nordic American Tankers Limited (NAT) 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 FGNX and NAT?
Across a 3-year window, the weekly returns of FGNX and NAT correlate at -0.24, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.29 lands near the 3-year figure. Stretching to 5 years gives -0.03, with an annualized covariance of -910.6 %².
Among the 18 assets we track against FGNX, NAT sits near the bottom by co-movement, at rank #16. Their recent paths diverged sharply: over the last 12 months NAT outperformed by 225.1 percentage points (-87.5% for FGNX against +137.6% for NAT). Risk is not evenly split, since FGNX carries 2.9 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 NAT: side by side
| FGNX (FG Nexus Inc.) | NAT (Nordic American Tankers Limited) | |
|---|---|---|
| 1-year return | -87.5% | +137.6% |
| 5-year return | -98.8% | +351.2% |
| Volatility (ann.) | 105.1% | 36.0% |
| Beta vs S&P 500 | -0.07 | 0.30 |
| Max drawdown (3Y) | -97.9% | -46.3% |
| Market cap | – | – |
| P/E (trailing) | – | 25.0 |
| Dividend yield | 0.00% | 9.51% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FGNX | NAT |
|---|---|---|
| 2022 | -24.2% | +87.9% |
| 2023 | -43.9% | +55.8% |
| 2024 | -45.5% | -33.6% |
| 2025 | -87.4% | +44.6% |
| 2026 | -42.8% | +111.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGNX and NAT 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 FGNX and NAT?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with -0.29 over the last year and -0.03 over 5 years.
Is NAT a good diversifier for FGNX?
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?
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-nat.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fgnx-vs-nat/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FGNX correlations · NAT correlations
