FRHC vs SPGI: Correlation
How closely do Freedom Holding Corp. (FRHC) and S&P Global (SPGI) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRHC and SPGI?
Across a 3-year window, the weekly returns of FRHC and SPGI correlate at 0.37, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. Stretching to 5 years gives 0.41, with an annualized covariance of 369.0 %².
By 3-year correlation, SPGI places #5 of the 12 assets tracked against FRHC. Over the last 12 months FRHC came out ahead by 13.7 percentage points (-1.9% against -15.6%). Risk is not evenly split, since FRHC carries 1.6 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.
FRHC vs SPGI: side by side
| FRHC (Freedom Holding Corp.) | SPGI (S&P Global) | |
|---|---|---|
| 1-year return | -1.9% | -15.6% |
| 5-year return | +163.7% | +8.1% |
| Volatility (ann.) | 39.9% | 24.7% |
| Beta vs S&P 500 | 0.87 | 0.86 |
| Max drawdown (3Y) | -41.1% | -30.5% |
| Market cap | $10.9B | $128.4B |
| P/E (trailing) | 71.1 | 26.6 |
| Dividend yield | 0.00% | 0.88% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FRHC | SPGI |
|---|---|---|
| 2022 | -16.0% | -28.4% |
| 2023 | +38.4% | +32.8% |
| 2024 | +62.1% | +13.9% |
| 2025 | -6.9% | +5.7% |
| 2026 | +40.3% | -11.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRHC and SPGI good diversifiers for each other?
Reasonably. At 0.37, FRHC and SPGI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FRHC and SPGI?
As of 2026-08-27, the correlation of weekly returns between FRHC and SPGI is 0.37 over 3 years, 0.40 over 1 year and 0.41 over 5 years.
Is SPGI a good diversifier for FRHC?
Reasonably. At 0.37, FRHC and SPGI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 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.
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Related comparisons
Hubs: FRHC correlations · SPGI correlations
