FRNM vs L: Correlation
How closely do Freenome, Inc. (FRNM) and Loews Corporation (L) trade together? Their weekly returns over three years give a correlation of -0.19, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and L?
Across a 3-year window, the weekly returns of FRNM and L correlate at -0.19, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.30) than the 3-year average (-0.19). Stretching to 5 years gives n/a, with an annualized covariance of -72.3 %².
By 3-year correlation, L places #12 of the 34 assets tracked against FRNM. The last year tells two different stories: FRNM led by 18.1 percentage points, +32.3% for FRNM against +14.2% for L.
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.
FRNM vs L: side by side
| FRNM (Freenome, Inc.) | L (Loews Corporation) | |
|---|---|---|
| 1-year return | +32.3% | +14.2% |
| 5-year return | n/a | +100.1% |
| Volatility (ann.) | 21.1% | 16.6% |
| Beta vs S&P 500 | 0.03 | 0.33 |
| Max drawdown (3Y) | -29.6% | -12.2% |
| Market cap | $1.5B | $22.5B |
| P/E (trailing) | – | 13.5 |
| Dividend yield | 0.00% | 0.23% |
| Sector / category | US Listed | Financials |
Year-by-year returns
| Year | FRNM | L |
|---|---|---|
| 2022 | – | +1.4% |
| 2023 | – | +19.8% |
| 2024 | – | +22.1% |
| 2025 | +28.0% | +24.7% |
| 2026 | +7.0% | +4.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and L good diversifiers for each other?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FRNM and L?
The FRNM/L correlation stands at -0.19 on a 3-year window (1 year: -0.30, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is L a good diversifier for FRNM?
Yes: at -0.19, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.19 mean?
On the −1 to +1 scale, -0.19 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/frnm-vs-l.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frnm-vs-l/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRNM correlations · L correlations
