FLXS vs SPGI: Correlation
Flexsteel Industries, Inc. (FLXS) and S&P Global (SPGI) show a negative relationship: their 3-year correlation of weekly returns is -0.16.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLXS and SPGI?
Across a 3-year window, the weekly returns of FLXS and SPGI correlate at -0.16, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.44 versus -0.16 over 3 years. Stretching to 5 years gives 0.01, with an annualized covariance of -231.9 %².
SPGI is close to the least connected end of FLXS's tracked universe, ranking #10 of 13. Their recent paths diverged sharply: over the last 12 months FLXS outperformed by 98.6 percentage points (+83.0% for FLXS against -15.6% for SPGI). Risk is not evenly split, since FLXS carries 2.4 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.
FLXS vs SPGI: side by side
| FLXS (Flexsteel Industries, Inc.) | SPGI (S&P Global) | |
|---|---|---|
| 1-year return | +83.0% | -15.6% |
| 5-year return | +162.8% | +8.1% |
| Volatility (ann.) | 58.9% | 24.7% |
| Beta vs S&P 500 | 0.68 | 0.86 |
| Max drawdown (3Y) | -54.1% | -30.5% |
| Market cap | $0.3B | $128.4B |
| P/E (trailing) | 13.4 | 26.6 |
| Dividend yield | 1.04% | 0.88% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FLXS | SPGI |
|---|---|---|
| 2022 | -40.7% | -28.4% |
| 2023 | +26.1% | +32.8% |
| 2024 | +192.9% | +13.9% |
| 2025 | -25.9% | +5.7% |
| 2026 | +109.7% | -11.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLXS and SPGI good diversifiers for each other?
Yes. With a correlation of -0.16, FLXS and SPGI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FLXS and SPGI?
As of 2026-08-27, the correlation of weekly returns between FLXS and SPGI is -0.16 over 3 years, -0.44 over 1 year and 0.01 over 5 years.
Is SPGI a good diversifier for FLXS?
Yes. With a correlation of -0.16, FLXS and SPGI have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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.
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Related comparisons
Hubs: FLXS correlations · SPGI correlations
