FNUC vs SMSI: Correlation
How closely do Frontier Nuclear and Minerals Inc. (FNUC) and Smith Micro Software, Inc. (SMSI) 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 FNUC and SMSI?
Over the past 3 years, FNUC and SMSI moved with a correlation of 0.33, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.06 versus 0.33 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 7443.9 %².
By 3-year correlation, SMSI places #21 of the 26 assets tracked against FNUC. The last year tells two different stories: SMSI led by 40.2 percentage points, -59.1% for FNUC against -18.9% for SMSI. Note the risk asymmetry: FNUC runs 2.5 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.
FNUC vs SMSI: side by side
| FNUC (Frontier Nuclear and Minerals Inc.) | SMSI (Smith Micro Software, Inc.) | |
|---|---|---|
| 1-year return | -59.1% | -18.9% |
| 5-year return | -99.0% | -98.5% |
| Volatility (ann.) | 237.4% | 94.7% |
| Beta vs S&P 500 | 1.55 | 0.95 |
| Max drawdown (3Y) | -94.2% | -96.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNUC | SMSI |
|---|---|---|
| 2022 | -60.4% | -57.3% |
| 2023 | -48.7% | -60.5% |
| 2024 | -17.9% | -80.3% |
| 2025 | -76.0% | -58.8% |
| 2026 | -43.3% | +9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNUC and SMSI good diversifiers for each other?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FNUC and SMSI?
Using weekly returns as of 2026-08-27: 0.33 over 3 years, with 0.06 over the last year and 0.30 over 5 years.
Is SMSI a good diversifier for FNUC?
A fair diversifier. At 0.33, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.33 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fnuc-vs-smsi.json
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Related comparisons
Hubs: FNUC correlations · SMSI correlations
