FLNC vs MCK: Correlation
How closely do Fluence Energy, Inc. (FLNC) and McKesson Corporation (MCK) trade together? Their weekly returns over three years give a correlation of -0.26, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNC and MCK?
Across a 3-year window, the weekly returns of FLNC and MCK correlate at -0.26, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.35 over 1 year against -0.26 over 3. Stretching to 5 years gives -0.13, with an annualized covariance of -714.7 %².
MCK is close to the least connected end of FLNC's tracked universe, ranking #17 of 19. The last year tells two different stories: FLNC led by 26.2 percentage points, +57.0% for FLNC against +30.8% for MCK. Risk is not evenly split, since FLNC carries 4.4 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.
FLNC vs MCK: side by side
| FLNC (Fluence Energy, Inc.) | MCK (McKesson Corporation) | |
|---|---|---|
| 1-year return | +57.0% | +30.8% |
| 5-year return | -67.3% | +354.8% |
| Volatility (ann.) | 109.2% | 25.1% |
| Beta vs S&P 500 | 2.11 | 0.16 |
| Max drawdown (3Y) | -86.9% | -27.2% |
| Market cap | $2.1B | $103.8B |
| P/E (trailing) | – | 24.0 |
| Dividend yield | 0.00% | 0.37% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | FLNC | MCK |
|---|---|---|
| 2022 | -51.8% | +51.8% |
| 2023 | +39.1% | +24.1% |
| 2024 | -33.4% | +23.7% |
| 2025 | +24.6% | +44.5% |
| 2026 | -42.2% | +8.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNC and MCK good diversifiers for each other?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
FAQ
What is the correlation between FLNC and MCK?
Using weekly returns as of 2026-08-27: -0.26 over 3 years, with -0.35 over the last year and -0.13 over 5 years.
Is MCK a good diversifier for FLNC?
By historical standards, yes. A correlation of -0.26 means the two rarely move for the same reasons.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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
$ curl https://www.pairbook.io/api/v1/pairs/flnc-vs-mck.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flnc-vs-mck/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLNC correlations · MCK correlations
