FRD vs INHD: Correlation
Measured on weekly returns over the past three years, Friedman Industries Inc. (FRD) and Inno Holdings Inc. (INHD) carry a correlation of 0.51, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRD and INHD?
Over the past 3 years, FRD and INHD moved with a correlation of 0.51, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.63 versus 0.51 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 56640.0 %².
In FRD's tracked universe of 12 assets, INHD sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months FRD outperformed by 237.6 percentage points (+137.8% for FRD against -99.8% for INHD). Risk is not evenly split, since INHD carries 44.7 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.
FRD vs INHD: side by side
| FRD (Friedman Industries Inc.) | INHD (Inno Holdings Inc.) | |
|---|---|---|
| 1-year return | +137.8% | -99.8% |
| 5-year return | +282.9% | n/a |
| Volatility (ann.) | 50.1% | 2238.2% |
| Beta vs S&P 500 | 1.10 | -0.52 |
| Max drawdown (3Y) | -34.6% | -100.0% |
| Market cap | $0.3B | – |
| P/E (trailing) | 11.7 | 0.2 |
| Dividend yield | 0.38% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRD | INHD |
|---|---|---|
| 2022 | +5.3% | – |
| 2023 | +59.0% | – |
| 2024 | -0.3% | -67.3% |
| 2025 | +35.3% | -99.0% |
| 2026 | +120.0% | -73.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRD and INHD good diversifiers for each other?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FRD and INHD?
The FRD/INHD correlation stands at 0.51 on a 3-year window (1 year: 0.63, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is INHD a good diversifier for FRD?
Somewhat, no more. With 0.51 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.51 mean?
On the −1 to +1 scale, 0.51 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/frd-vs-inhd.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/frd-vs-inhd/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRD correlations · INHD correlations
