FRNM vs PPL: Correlation
Measured on weekly returns over the past three years, Freenome, Inc. (FRNM) and PPL Corporation (PPL) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and PPL?
Across a 3-year window, the weekly returns of FRNM and PPL correlate at -0.23, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.30 lands near the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of -85.4 %².
Within FRNM's tracked universe of 34 assets, PPL comes in at #18 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FRNM ahead by 35.3 points (+32.3% versus -3.0%).
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 PPL: side by side
| FRNM (Freenome, Inc.) | PPL (PPL Corporation) | |
|---|---|---|
| 1-year return | +32.3% | -3.0% |
| 5-year return | n/a | +41.1% |
| Volatility (ann.) | 21.1% | 17.4% |
| Beta vs S&P 500 | 0.03 | 0.13 |
| Max drawdown (3Y) | -29.6% | -13.3% |
| Market cap | $1.5B | $25.9B |
| P/E (trailing) | – | 20.7 |
| Dividend yield | 0.00% | 3.18% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | FRNM | PPL |
|---|---|---|
| 2022 | – | +0.4% |
| 2023 | – | -3.8% |
| 2024 | – | +24.0% |
| 2025 | +28.0% | +11.4% |
| 2026 | +7.0% | -0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and PPL good diversifiers for each other?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
FAQ
What is the correlation between FRNM and PPL?
As of 2026-08-27, the correlation of weekly returns between FRNM and PPL is -0.23 over 3 years, -0.30 over 1 year and n/a over 5 years.
Is PPL a good diversifier for FRNM?
By historical standards, yes. A correlation of -0.23 means the two rarely move for the same reasons.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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-ppl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/frnm-vs-ppl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FRNM correlations · PPL correlations
