FNWB vs RENT: Correlation
Measured on weekly returns over the past three years, First Northwest Bancorp (FNWB) and Rent the Runway, Inc. (RENT) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNWB and RENT?
Over the past 3 years, FNWB and RENT moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (-0.04) than the 3-year average (-0.29). Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -2106.0 %².
Out of 10 assets tracked against FNWB, RENT lands near the bottom at #10. The last year tells two different stories: FNWB led by 82.2 percentage points, +46.4% for FNWB against -35.8% for RENT. One caveat on sizing: RENT is 6.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FNWB vs RENT: side by side
| FNWB (First Northwest Bancorp) | RENT (Rent the Runway, Inc.) | |
|---|---|---|
| 1-year return | +46.4% | -35.8% |
| 5-year return | -35.8% | -99.1% |
| Volatility (ann.) | 34.5% | 212.1% |
| Beta vs S&P 500 | 0.28 | 2.17 |
| Max drawdown (3Y) | -55.0% | -91.6% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | 65.5 | 0.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNWB | RENT |
|---|---|---|
| 2022 | -22.7% | -62.6% |
| 2023 | +6.1% | -82.7% |
| 2024 | -34.3% | -19.5% |
| 2025 | -6.8% | -6.9% |
| 2026 | +18.8% | -54.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNWB and RENT good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNWB and RENT?
Using weekly returns as of 2026-08-27: -0.29 over 3 years, with -0.04 over the last year and -0.20 over 5 years.
Is RENT a good diversifier for FNWB?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 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/fnwb-vs-rent.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fnwb-vs-rent/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FNWB correlations · RENT correlations
