FMST vs VEEA: Correlation
How closely do Foremost Clean Energy Ltd. (FMST) and Veea Inc. (VEEA) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMST and VEEA?
Across a 3-year window, the weekly returns of FMST and VEEA correlate at 0.33, moderate. The link has loosened recently: the 1-year correlation (0.22) runs below the 3-year figure (0.33). Stretching to 5 years gives n/a, with an annualized covariance of 3520.3 %².
VEEA is close to the least connected end of FMST's tracked universe, ranking #8 of 12. Correlation aside, the last 12 months split them widely, with FMST ahead by 20.9 points (-62.5% versus -83.4%).
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 VEEA: side by side
| FMST (Foremost Clean Energy Ltd.) | VEEA (Veea Inc.) | |
|---|---|---|
| 1-year return | -62.5% | -83.4% |
| 5-year return | n/a | -99.0% |
| Volatility (ann.) | 118.7% | 89.4% |
| Beta vs S&P 500 | 2.68 | 1.23 |
| Max drawdown (3Y) | -86.7% | -99.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMST | VEEA |
|---|---|---|
| 2022 | – | +3.6% |
| 2023 | – | +7.6% |
| 2024 | -44.8% | -64.9% |
| 2025 | +53.6% | -83.3% |
| 2026 | -44.8% | -84.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMST and VEEA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FMST and VEEA?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.22 over the last year and n/a over 5 years.
Is VEEA a good diversifier for FMST?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 mean?
On the −1 to +1 scale, 0.33 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: FMST correlations · VEEA correlations
