FMY vs SRXH: Correlation
How closely do First Trust Mortgage Income Fund (FMY) and SRX Global Inc. (SRXH) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMY and SRXH?
Over the past 3 years, FMY and SRXH moved with a correlation of -0.19, which is 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 (-0.19). Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -216.4 %².
SRXH is close to the least connected end of FMY's tracked universe, ranking #8 of 12. Their recent paths diverged sharply: over the last 12 months FMY outperformed by 94.2 percentage points (+2.3% for FMY against -91.9% for SRXH). Risk is not evenly split, since SRXH carries 12.1 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.
FMY vs SRXH: side by side
| FMY (First Trust Mortgage Income Fund) | SRXH (SRX Global Inc.) | |
|---|---|---|
| 1-year return | +2.3% | -91.9% |
| 5-year return | +18.1% | -100.0% |
| Volatility (ann.) | 9.6% | 116.5% |
| Beta vs S&P 500 | 0.12 | 0.40 |
| Max drawdown (3Y) | -7.1% | -99.8% |
| Market cap | – | – |
| P/E (trailing) | 16.5 | – |
| Dividend yield | 6.94% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMY | SRXH |
|---|---|---|
| 2022 | -13.0% | -83.3% |
| 2023 | +16.1% | -48.6% |
| 2024 | +7.1% | -78.8% |
| 2025 | +8.6% | -86.9% |
| 2026 | +0.1% | -86.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMY and SRXH good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FMY and SRXH?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.06 over the last year and -0.05 over 5 years.
Is SRXH a good diversifier for FMY?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fmy-vs-srxh.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fmy-vs-srxh/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FMY correlations · SRXH correlations
