FRNM vs RTX: Correlation
Measured on weekly returns over the past three years, Freenome, Inc. (FRNM) and RTX Corporation (RTX) carry a correlation of -0.22, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and RTX?
Over the past 3 years, FRNM and RTX moved with a correlation of -0.22, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.32) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -119.9 %².
Among the 34 assets we track against FRNM, RTX ranks #16 by 3-year correlation. Twelve-month performance is nearly a tie, at +32.3% for FRNM and +34.7% for RTX.
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 RTX: side by side
| FRNM (Freenome, Inc.) | RTX (RTX Corporation) | |
|---|---|---|
| 1-year return | +32.3% | +34.7% |
| 5-year return | n/a | +178.4% |
| Volatility (ann.) | 21.1% | 25.1% |
| Beta vs S&P 500 | 0.03 | 0.57 |
| Max drawdown (3Y) | -29.6% | -19.7% |
| Market cap | $1.5B | $285.8B |
| P/E (trailing) | – | 37.3 |
| Dividend yield | 0.00% | 1.31% |
| Sector / category | US Listed | Industrials |
Year-by-year returns
| Year | FRNM | RTX |
|---|---|---|
| 2022 | – | +20.0% |
| 2023 | – | -14.4% |
| 2024 | – | +40.8% |
| 2025 | +28.0% | +61.4% |
| 2026 | +7.0% | +16.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and RTX good diversifiers for each other?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
FAQ
What is the correlation between FRNM and RTX?
The FRNM/RTX correlation stands at -0.22 on a 3-year window (1 year: -0.32, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RTX a good diversifier for FRNM?
By historical standards, yes. A correlation of -0.22 means the two rarely move for the same reasons.
What does a correlation of -0.22 mean?
A reading of -0.22 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/frnm-vs-rtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/frnm-vs-rtx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FRNM correlations · RTX correlations
