FLUT vs PHUN: Correlation
Flutter Entertainment plc (FLUT) and Phunware, Inc. (PHUN) show a moderate relationship: their 3-year correlation of weekly returns is 0.34.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLUT and PHUN?
Over the past 3 years, FLUT and PHUN moved with a correlation of 0.34, which is moderate. The link has loosened recently: the 1-year correlation (0.16) runs below the 3-year figure (0.34). Over 5 years the correlation is 0.10, and the annualized covariance of weekly returns is 2279.3 %².
Out of 14 assets tracked against FLUT, PHUN lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months PHUN outperformed by 48.8 percentage points (-68.9% for FLUT against -20.1% for PHUN). One caveat on sizing: PHUN is 3.9 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.
FLUT vs PHUN: side by side
| FLUT (Flutter Entertainment plc) | PHUN (Phunware, Inc.) | |
|---|---|---|
| 1-year return | -68.9% | -20.1% |
| 5-year return | -51.0% | -96.0% |
| Volatility (ann.) | 41.7% | 162.6% |
| Beta vs S&P 500 | 1.16 | 1.61 |
| Max drawdown (3Y) | -70.1% | -92.6% |
| Market cap | $16.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLUT | PHUN |
|---|---|---|
| 2022 | -14.4% | -70.6% |
| 2023 | +32.8% | -89.4% |
| 2024 | +44.4% | +26.8% |
| 2025 | -16.8% | -64.4% |
| 2026 | -55.8% | +14.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLUT and PHUN good diversifiers for each other?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FLUT and PHUN?
As of 2026-08-27, the correlation of weekly returns between FLUT and PHUN is 0.34 over 3 years, 0.16 over 1 year and 0.10 over 5 years.
Is PHUN a good diversifier for FLUT?
A fair diversifier. At 0.34, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.34 mean?
A reading of 0.34 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/flut-vs-phun.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flut-vs-phun/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLUT correlations · PHUN correlations
