FRAF vs OCGN: Correlation
Franklin Financial Services Corporation (FRAF) and Ocugen, Inc. (OCGN) show a negative relationship: their 3-year correlation of weekly returns is -0.24.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRAF and OCGN?
On 3 years of weekly data the FRAF/OCGN correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.04 versus -0.24 over 3 years. The 5-year figure is -0.15, and annualized covariance runs at -726.6 %².
OCGN is close to the least connected end of FRAF's tracked universe, ranking #14 of 15. Over the last 12 months FRAF came out ahead by 5.1 percentage points (+36.8% against +31.7%). Note the risk asymmetry: OCGN runs 3.0 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.
FRAF vs OCGN: side by side
| FRAF (Franklin Financial Services Corporation) | OCGN (Ocugen, Inc.) | |
|---|---|---|
| 1-year return | +36.8% | +31.7% |
| 5-year return | +133.8% | -81.2% |
| Volatility (ann.) | 31.7% | 95.8% |
| Beta vs S&P 500 | 0.22 | 1.22 |
| Max drawdown (3Y) | -25.5% | -73.9% |
| Market cap | $0.3B | $0.5B |
| P/E (trailing) | 11.3 | – |
| Dividend yield | 2.14% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRAF | OCGN |
|---|---|---|
| 2022 | +13.5% | -71.4% |
| 2023 | -8.8% | -55.8% |
| 2024 | -1.4% | +40.0% |
| 2025 | +73.5% | +67.7% |
| 2026 | +25.9% | +1.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRAF and OCGN good diversifiers for each other?
Yes. With a correlation of -0.24, FRAF and OCGN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FRAF and OCGN?
Using weekly returns as of 2026-08-27: -0.24 over 3 years, with 0.04 over the last year and -0.15 over 5 years.
Is OCGN a good diversifier for FRAF?
Yes. With a correlation of -0.24, FRAF and OCGN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/fraf-vs-ocgn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fraf-vs-ocgn/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRAF correlations · OCGN correlations
