FLYE vs NWN: Correlation
How closely do Fly-E Group, Inc. (FLYE) and Northwest Natural Holding Company (NWN) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLYE and NWN?
Over the past 3 years, FLYE and NWN moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.23 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -582.7 %².
Within FLYE's tracked universe of 44 assets, NWN comes in at #18 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months NWN outperformed by 113.4 percentage points (-89.0% for FLYE against +24.4% for NWN). Risk is not evenly split, since FLYE carries 7.4 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.
FLYE vs NWN: side by side
| FLYE (Fly-E Group, Inc.) | NWN (Northwest Natural Holding Company) | |
|---|---|---|
| 1-year return | -89.0% | +24.4% |
| 5-year return | n/a | +20.2% |
| Volatility (ann.) | 153.0% | 20.8% |
| Beta vs S&P 500 | 1.73 | 0.17 |
| Max drawdown (3Y) | -99.8% | -13.5% |
| Market cap | – | $2.1B |
| P/E (trailing) | – | 16.9 |
| Dividend yield | 0.00% | 3.91% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLYE | NWN |
|---|---|---|
| 2022 | – | +1.5% |
| 2023 | – | -14.4% |
| 2024 | – | +6.8% |
| 2025 | -92.1% | +23.7% |
| 2026 | -74.4% | +9.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYE and NWN good diversifiers for each other?
Yes. With a correlation of -0.20, FLYE and NWN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FLYE and NWN?
The FLYE/NWN correlation stands at -0.20 on a 3-year window (1 year: -0.23, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is NWN a good diversifier for FLYE?
Yes. With a correlation of -0.20, FLYE and NWN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 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/flye-vs-nwn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flye-vs-nwn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLYE correlations · NWN correlations
