FNWD vs ROL: Correlation
How closely do Finward Bancorp (FNWD) and Rollins, Inc. (ROL) trade together? Their weekly returns over three years give a correlation of -0.22, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNWD and ROL?
On 3 years of weekly data the FNWD/ROL correlation comes out at -0.22, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.32 lands near the 3-year figure. The 5-year figure is -0.17, and annualized covariance runs at -137.8 %².
Out of 10 assets tracked against FNWD, ROL lands near the bottom at #10. Their recent paths diverged sharply: over the last 12 months FNWD outperformed by 72.7 percentage points (+37.0% for FNWD against -35.7% for ROL).
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.
FNWD vs ROL: side by side
| FNWD (Finward Bancorp) | ROL (Rollins, Inc.) | |
|---|---|---|
| 1-year return | +37.0% | -35.7% |
| 5-year return | +17.8% | -1.8% |
| Volatility (ann.) | 27.1% | 23.2% |
| Beta vs S&P 500 | 0.12 | 0.51 |
| Max drawdown (3Y) | -23.5% | -44.6% |
| Market cap | $0.2B | $17.3B |
| P/E (trailing) | 19.2 | 32.7 |
| Dividend yield | 1.11% | 1.94% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FNWD | ROL |
|---|---|---|
| 2022 | -18.5% | +8.1% |
| 2023 | -27.6% | +21.2% |
| 2024 | +13.4% | +7.6% |
| 2025 | +27.1% | +31.1% |
| 2026 | +23.1% | -39.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNWD and ROL good diversifiers for each other?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FNWD and ROL?
Using weekly returns as of 2026-08-27: -0.22 over 3 years, with -0.32 over the last year and -0.17 over 5 years.
Is ROL a good diversifier for FNWD?
Yes: at -0.22, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.22 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/fnwd-vs-rol.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fnwd-vs-rol/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FNWD correlations · ROL correlations
