FRNM vs PAVS: Correlation
How closely do Freenome, Inc. (FRNM) and Paranovus Entertainment Technology Ltd. - Class A (PAVS) trade together? Their weekly returns over three years give a correlation of -0.30, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and PAVS?
On 3 years of weekly data the FRNM/PAVS correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.31 over 1 year against -0.30 over 3. The 5-year figure is n/a, and annualized covariance runs at -949.8 %².
Among the 34 assets we track against FRNM, PAVS sits near the bottom by co-movement, at rank #32. Their recent paths diverged sharply: over the last 12 months FRNM outperformed by 132.3 percentage points (+32.3% for FRNM against -100.0% for PAVS). Risk is not evenly split, since PAVS carries 6.3 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.
FRNM vs PAVS: side by side
| FRNM (Freenome, Inc.) | PAVS (Paranovus Entertainment Technology Ltd. - Class A) | |
|---|---|---|
| 1-year return | +32.3% | -100.0% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 21.1% | 133.6% |
| Beta vs S&P 500 | 0.03 | 1.06 |
| Max drawdown (3Y) | -29.6% | -100.0% |
| Market cap | $1.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRNM | PAVS |
|---|---|---|
| 2022 | – | -61.1% |
| 2023 | – | -44.6% |
| 2024 | – | -44.4% |
| 2025 | +28.0% | -98.7% |
| 2026 | +7.0% | -99.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and PAVS good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FRNM and PAVS?
The FRNM/PAVS correlation stands at -0.30 on a 3-year window (1 year: -0.31, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is PAVS a good diversifier for FRNM?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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: FRNM correlations · PAVS correlations
