FGNX vs NC: Correlation
Measured on weekly returns over the past three years, FG Nexus Inc. (FGNX) and NACCO Industries, Inc. (NC) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FGNX and NC?
Across a 3-year window, the weekly returns of FGNX and NC correlate at -0.22, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.29 over 1 year against -0.22 over 3. Stretching to 5 years gives -0.06, with an annualized covariance of -837.5 %².
Among the 18 assets we track against FGNX, NC sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with NC ahead by 99.7 points (-87.5% versus +12.2%). Note the risk asymmetry: FGNX runs 2.9 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.
FGNX vs NC: side by side
| FGNX (FG Nexus Inc.) | NC (NACCO Industries, Inc.) | |
|---|---|---|
| 1-year return | -87.5% | +12.2% |
| 5-year return | -98.8% | +96.1% |
| Volatility (ann.) | 105.1% | 36.3% |
| Beta vs S&P 500 | -0.07 | 0.46 |
| Max drawdown (3Y) | -97.9% | -31.2% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | 18.7 |
| Dividend yield | 0.00% | 2.39% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FGNX | NC |
|---|---|---|
| 2022 | -24.2% | +6.7% |
| 2023 | -43.9% | -1.5% |
| 2024 | -45.5% | -15.9% |
| 2025 | -87.4% | +68.8% |
| 2026 | -42.8% | -11.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FGNX and NC good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FGNX and NC?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.29 over the last year and -0.06 over 5 years.
Is NC a good diversifier for FGNX?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 mean?
On the −1 to +1 scale, -0.22 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
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Related comparisons
Hubs: FGNX correlations · NC correlations
