FLNC vs PDFS: Correlation
Fluence Energy, Inc. (FLNC) and PDF Solutions, Inc. (PDFS) show a moderate relationship: their 3-year correlation of weekly returns is 0.50.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNC and PDFS?
Across a 3-year window, the weekly returns of FLNC and PDFS correlate at 0.50, moderate. The relationship has been stable: the 1-year correlation (0.55) sits close to the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 2580.4 %².
Within FLNC's tracked universe of 19 assets, PDFS comes in at #4 by 3-year correlation. The last year tells two different stories: PDFS led by 76.6 percentage points, +57.0% for FLNC against +133.6% for PDFS. Risk is not evenly split, since FLNC carries 2.3 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 PDFS: side by side
| FLNC (Fluence Energy, Inc.) | PDFS (PDF Solutions, Inc.) | |
|---|---|---|
| 1-year return | +57.0% | +133.6% |
| 5-year return | -67.3% | +105.9% |
| Volatility (ann.) | 109.2% | 47.4% |
| Beta vs S&P 500 | 2.11 | 1.55 |
| Max drawdown (3Y) | -86.9% | -58.5% |
| Market cap | $2.1B | $1.9B |
| P/E (trailing) | – | 177.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLNC | PDFS |
|---|---|---|
| 2022 | -51.8% | -10.3% |
| 2023 | +39.1% | +12.7% |
| 2024 | -33.4% | -15.7% |
| 2025 | +24.6% | +5.4% |
| 2026 | -42.2% | +61.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNC and PDFS good diversifiers for each other?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FLNC and PDFS?
As of 2026-08-27, the correlation of weekly returns between FLNC and PDFS is 0.50 over 3 years, 0.55 over 1 year and 0.44 over 5 years.
Is PDFS a good diversifier for FLNC?
Somewhat, no more. With 0.50 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.50 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/flnc-vs-pdfs.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flnc-vs-pdfs/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FLNC correlations · PDFS correlations
