FNKO vs PENN: Correlation
How closely do Funko, Inc. (FNKO) and PENN Entertainment, Inc. (PENN) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNKO and PENN?
Over the past 3 years, FNKO and PENN moved with a correlation of 0.44, which is moderate. The relationship has been stable: the 1-year correlation (0.42) sits close to the 3-year figure. Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 1461.1 %².
Within FNKO's tracked universe of 12 assets, PENN comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FNKO ahead by 114.2 points (+101.2% versus -13.0%).
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.
FNKO vs PENN: side by side
| FNKO (Funko, Inc.) | PENN (PENN Entertainment, Inc.) | |
|---|---|---|
| 1-year return | +101.2% | -13.0% |
| 5-year return | -63.9% | -78.7% |
| Volatility (ann.) | 70.2% | 47.0% |
| Beta vs S&P 500 | 1.95 | 1.50 |
| Max drawdown (3Y) | -83.0% | -55.8% |
| Market cap | $0.4B | $2.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNKO | PENN |
|---|---|---|
| 2022 | -42.0% | -42.7% |
| 2023 | -29.1% | -12.4% |
| 2024 | +73.2% | -23.8% |
| 2025 | -74.6% | -25.6% |
| 2026 | +98.2% | +17.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNKO and PENN good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FNKO and PENN?
As of 2026-08-27, the correlation of weekly returns between FNKO and PENN is 0.44 over 3 years, 0.42 over 1 year and 0.34 over 5 years.
Is PENN a good diversifier for FNKO?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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: FNKO correlations · PENN correlations
