FOSL vs NOA: Correlation
Measured on weekly returns over the past three years, Fossil Group, Inc. (FOSL) and North American Construction Group Ltd. (NOA) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FOSL and NOA?
Over the past 3 years, FOSL and NOA moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.11 lands near the 3-year figure. Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -676.8 %².
Among the 13 assets we track against FOSL, NOA sits near the bottom by co-movement, at rank #12. Their recent paths diverged sharply: over the last 12 months FOSL outperformed by 73.8 percentage points (+75.8% for FOSL against +2.0% for NOA). Risk is not evenly split, since FOSL carries 2.5 times the volatility of the other side.
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.
FOSL vs NOA: side by side
| FOSL (Fossil Group, Inc.) | NOA (North American Construction Group Ltd.) | |
|---|---|---|
| 1-year return | +75.8% | +2.0% |
| 5-year return | -60.8% | +2.6% |
| Volatility (ann.) | 92.1% | 37.5% |
| Beta vs S&P 500 | 1.49 | 0.84 |
| Max drawdown (3Y) | -65.5% | -51.3% |
| Market cap | $0.3B | $0.4B |
| P/E (trailing) | – | 16.5 |
| Dividend yield | 0.00% | 3.61% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FOSL | NOA |
|---|---|---|
| 2022 | -58.1% | -9.8% |
| 2023 | -66.1% | +58.3% |
| 2024 | +14.4% | +5.2% |
| 2025 | +125.1% | -32.8% |
| 2026 | +43.1% | -4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FOSL and NOA good diversifiers for each other?
Yes. With a correlation of -0.20, FOSL and NOA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FOSL and NOA?
The FOSL/NOA correlation stands at -0.20 on a 3-year window (1 year: -0.11, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is NOA a good diversifier for FOSL?
Yes. With a correlation of -0.20, FOSL and NOA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
A reading of -0.20 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fosl-vs-noa.json
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[](https://www.pairbook.io/pair/fosl-vs-noa/)
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Related comparisons
Hubs: FOSL correlations · NOA correlations
