FLNC vs RSG: Correlation
Measured on weekly returns over the past three years, Fluence Energy, Inc. (FLNC) and Republic Services (RSG) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNC and RSG?
Over the past 3 years, FLNC and RSG moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Over 5 years the correlation is -0.06, and the annualized covariance of weekly returns is -436.1 %².
By 3-year correlation, RSG places #13 of the 19 assets tracked against FLNC. Correlation aside, the last 12 months split them widely, with FLNC ahead by 62.6 points (+57.0% versus -5.6%). One caveat on sizing: FLNC is 6.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RSG: side by side
| FLNC (Fluence Energy, Inc.) | RSG (Republic Services) | |
|---|---|---|
| 1-year return | +57.0% | -5.6% |
| 5-year return | -67.3% | +87.9% |
| Volatility (ann.) | 109.2% | 16.2% |
| Beta vs S&P 500 | 2.11 | 0.17 |
| Max drawdown (3Y) | -86.9% | -22.5% |
| Market cap | $2.1B | $67.1B |
| P/E (trailing) | – | 31.0 |
| Dividend yield | 0.00% | 1.13% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FLNC | RSG |
|---|---|---|
| 2022 | -51.8% | -6.2% |
| 2023 | +39.1% | +29.6% |
| 2024 | -33.4% | +23.0% |
| 2025 | +24.6% | +6.4% |
| 2026 | -42.2% | +4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNC and RSG good diversifiers for each other?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
FAQ
What is the correlation between FLNC and RSG?
The FLNC/RSG correlation stands at -0.25 on a 3-year window (1 year: -0.35, 5 years: -0.06), computed from weekly returns as of 2026-08-27.
Is RSG a good diversifier for FLNC?
By historical standards, yes. A correlation of -0.25 means the two rarely move for the same reasons.
What does a correlation of -0.25 mean?
A reading of -0.25 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/flnc-vs-rsg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flnc-vs-rsg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FLNC correlations · RSG correlations
