FLYE vs KO: Correlation
Fly-E Group, Inc. (FLYE) and Coca-Cola Company (The) (KO) show a negative relationship: their 3-year correlation of weekly returns is -0.22.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLYE and KO?
On 3 years of weekly data the FLYE/KO correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at -548.5 %².
Within FLYE's tracked universe of 44 assets, KO comes in at #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months KO outperformed by 122.1 percentage points (-89.0% for FLYE against +33.1% for KO). Note the risk asymmetry: FLYE runs 9.9 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FLYE vs KO: side by side
| FLYE (Fly-E Group, Inc.) | KO (Coca-Cola Company (The)) | |
|---|---|---|
| 1-year return | -89.0% | +33.1% |
| 5-year return | n/a | +83.8% |
| Volatility (ann.) | 153.0% | 15.4% |
| Beta vs S&P 500 | 1.73 | 0.11 |
| Max drawdown (3Y) | -99.8% | -15.5% |
| Market cap | – | $383.2B |
| P/E (trailing) | – | 27.0 |
| Dividend yield | 0.00% | 2.31% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | FLYE | KO |
|---|---|---|
| 2022 | – | +10.6% |
| 2023 | – | -4.4% |
| 2024 | – | +8.9% |
| 2025 | -92.1% | +15.6% |
| 2026 | -74.4% | +29.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYE and KO good diversifiers for each other?
Yes. With a correlation of -0.22, FLYE and KO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FLYE and KO?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.32 over the last year and n/a over 5 years.
Is KO a good diversifier for FLYE?
Yes. With a correlation of -0.22, FLYE and KO have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.22 mean?
A reading of -0.22 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/flye-vs-ko.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flye-vs-ko/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLYE correlations · KO correlations
