FLEX vs FSTR: Correlation
Measured on weekly returns over the past three years, Flex Ltd. (FLEX) and L.B. Foster Company (FSTR) carry a correlation of 0.49, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLEX and FSTR?
Across a 3-year window, the weekly returns of FLEX and FSTR correlate at 0.49, moderate. The past 12 months show a tighter link (0.78) than the 3-year average (0.49). Stretching to 5 years gives 0.40, with an annualized covariance of 1155.4 %².
By 3-year correlation, FSTR places #26 of the 45 assets tracked against FLEX. Correlation aside, the last 12 months split them widely, with FLEX ahead by 71.8 points (+114.6% versus +42.8%).
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.
FLEX vs FSTR: side by side
| FLEX (Flex Ltd.) | FSTR (L.B. Foster Company) | |
|---|---|---|
| 1-year return | +114.6% | +42.8% |
| 5-year return | +716.5% | +119.1% |
| Volatility (ann.) | 50.9% | 46.4% |
| Beta vs S&P 500 | 1.70 | 1.23 |
| Max drawdown (3Y) | -40.0% | -45.9% |
| Market cap | $42.6B | $0.4B |
| P/E (trailing) | 43.2 | 35.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FLEX | FSTR |
|---|---|---|
| 2022 | +17.1% | -29.6% |
| 2023 | +41.9% | +127.2% |
| 2024 | +67.2% | +22.3% |
| 2025 | +57.4% | +0.2% |
| 2026 | +90.8% | +40.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLEX and FSTR good diversifiers for each other?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FLEX and FSTR?
The FLEX/FSTR correlation stands at 0.49 on a 3-year window (1 year: 0.78, 5 years: 0.40), computed from weekly returns as of 2026-08-27.
Is FSTR a good diversifier for FLEX?
A fair diversifier. At 0.49, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.49 mean?
A reading of 0.49 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/flex-vs-fstr.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flex-vs-fstr/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLEX correlations · FSTR correlations
