FMST vs NAKA: Correlation
How closely do Foremost Clean Energy Ltd. (FMST) and Nakamoto Inc. (NAKA) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMST and NAKA?
Over the past 3 years, FMST and NAKA moved with a correlation of 0.48, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.12 versus 0.48 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 13713.7 %².
Few assets follow FMST as closely as NAKA, which ranks #1 of 12 tracked partners. The last year tells two different stories: FMST led by 34.4 percentage points, -62.5% for FMST against -96.9% for NAKA. Note the risk asymmetry: NAKA runs 1.9 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.
FMST vs NAKA: side by side
| FMST (Foremost Clean Energy Ltd.) | NAKA (Nakamoto Inc.) | |
|---|---|---|
| 1-year return | -62.5% | -96.9% |
| 5-year return | n/a | n/a |
| Volatility (ann.) | 118.7% | 231.2% |
| Beta vs S&P 500 | 2.68 | 4.09 |
| Max drawdown (3Y) | -86.7% | -99.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMST | NAKA |
|---|---|---|
| 2024 | -44.8% | – |
| 2025 | +53.6% | -71.7% |
| 2026 | -44.8% | -44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMST and NAKA good diversifiers for each other?
Reasonably. At 0.48, FMST and NAKA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FMST and NAKA?
As of 2026-08-27, the correlation of weekly returns between FMST and NAKA is 0.48 over 3 years, 0.12 over 1 year and n/a over 5 years.
Is NAKA a good diversifier for FMST?
Reasonably. At 0.48, FMST and NAKA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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/fmst-vs-naka.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fmst-vs-naka/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FMST correlations · NAKA correlations
