FNUC vs SES: Correlation
How closely do Frontier Nuclear and Minerals Inc. (FNUC) and SES AI Corporation (SES) trade together? Their weekly returns over three years give a correlation of 0.80, which is very strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNUC and SES?
Across a 3-year window, the weekly returns of FNUC and SES correlate at 0.80, very strong, meaning they move nearly in lockstep. The link has loosened recently: the 1-year correlation (0.37) runs below the 3-year figure (0.80). Stretching to 5 years gives 0.73, with an annualized covariance of 55939.6 %².
SES is one of the assets that tracks FNUC most closely: it ranks #1 out of the 26 assets we track against FNUC. Over the last 12 months SES came out ahead by 8.1 percentage points (-59.1% against -51.0%).
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.
FNUC vs SES: side by side
| FNUC (Frontier Nuclear and Minerals Inc.) | SES (SES AI Corporation) | |
|---|---|---|
| 1-year return | -59.1% | -51.0% |
| 5-year return | -99.0% | -94.5% |
| Volatility (ann.) | 237.4% | 294.5% |
| Beta vs S&P 500 | 1.55 | 2.43 |
| Max drawdown (3Y) | -94.2% | -89.7% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNUC | SES |
|---|---|---|
| 2022 | -60.4% | -68.3% |
| 2023 | -48.7% | -41.9% |
| 2024 | -17.9% | +19.7% |
| 2025 | -76.0% | -17.8% |
| 2026 | -43.3% | -69.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNUC and SES good diversifiers for each other?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
FAQ
What is the correlation between FNUC and SES?
The FNUC/SES correlation stands at 0.80 on a 3-year window (1 year: 0.37, 5 years: 0.73), computed from weekly returns as of 2026-08-27.
Is SES a good diversifier for FNUC?
Not really. At 0.80, the two trade almost as one position, and owning both buys little extra protection.
What does a correlation of 0.80 mean?
On the −1 to +1 scale, 0.80 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/fnuc-vs-ses.json
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Related comparisons
Hubs: FNUC correlations · SES correlations
