FMN vs GNPX: Correlation
Federated Hermes Premier Municipal Income Fund (FMN) and Genprex, Inc. (GNPX) show a negative relationship: their 3-year correlation of weekly returns is -0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMN and GNPX?
On 3 years of weekly data the FMN/GNPX correlation comes out at -0.31, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.06) runs above the 3-year figure (-0.31). The 5-year figure is -0.19, and annualized covariance runs at -883.6 %².
Among the 13 assets we track against FMN, GNPX sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months FMN outperformed by 107.6 percentage points (+9.5% for FMN against -98.1% for GNPX). Risk is not evenly split, since GNPX carries 23.0 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.
FMN vs GNPX: side by side
| FMN (Federated Hermes Premier Municipal Income Fund) | GNPX (Genprex, Inc.) | |
|---|---|---|
| 1-year return | +9.5% | -98.1% |
| 5-year return | -12.8% | -100.0% |
| Volatility (ann.) | 11.1% | 255.0% |
| Beta vs S&P 500 | 0.24 | -0.45 |
| Max drawdown (3Y) | -16.3% | -100.0% |
| Market cap | $0.1B | – |
| P/E (trailing) | 9.7 | 0.1 |
| Dividend yield | 4.57% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMN | GNPX |
|---|---|---|
| 2022 | -26.7% | +10.7% |
| 2023 | +9.2% | -84.1% |
| 2024 | +3.2% | -90.7% |
| 2025 | +6.8% | -95.9% |
| 2026 | +2.9% | -90.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMN and GNPX good diversifiers for each other?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
FAQ
What is the correlation between FMN and GNPX?
The FMN/GNPX correlation stands at -0.31 on a 3-year window (1 year: 0.06, 5 years: -0.19), computed from weekly returns as of 2026-08-27.
Is GNPX a good diversifier for FMN?
By historical standards, yes. A correlation of -0.31 means the two rarely move for the same reasons.
What does a correlation of -0.31 mean?
A reading of -0.31 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/fmn-vs-gnpx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fmn-vs-gnpx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FMN correlations · GNPX correlations
