FLYE vs OFS: Correlation
Fly-E Group, Inc. (FLYE) and OFS Capital Corporation - Closed End Fund (OFS) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLYE and OFS?
Over the past 3 years, FLYE and OFS moved with a correlation of 0.37, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.37 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 2115.5 %².
Few assets follow FLYE as closely as OFS, which ranks #2 of 44 tracked partners. Their recent paths diverged sharply: over the last 12 months OFS outperformed by 41.6 percentage points (-89.0% for FLYE against -47.4% for OFS). Risk is not evenly split, since FLYE carries 4.5 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 OFS: side by side
| FLYE (Fly-E Group, Inc.) | OFS (OFS Capital Corporation - Closed End Fund) | |
|---|---|---|
| 1-year return | -89.0% | -47.4% |
| 5-year return | n/a | -31.5% |
| Volatility (ann.) | 153.0% | 34.0% |
| Beta vs S&P 500 | 1.73 | 0.69 |
| Max drawdown (3Y) | -99.8% | -67.0% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 23.22% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLYE | OFS |
|---|---|---|
| 2022 | – | +3.3% |
| 2023 | – | +29.9% |
| 2024 | – | -20.2% |
| 2025 | -92.1% | -31.6% |
| 2026 | -74.4% | -14.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYE and OFS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FLYE and OFS?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.54 over the last year and n/a over 5 years.
Is OFS a good diversifier for FLYE?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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.
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Related comparisons
Hubs: FLYE correlations · OFS correlations
