FRNM vs SO: Correlation
How closely do Freenome, Inc. (FRNM) and Southern Company (SO) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and SO?
Over the past 3 years, FRNM and SO moved with a correlation of -0.25, 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 -80.8 %².
Within FRNM's tracked universe of 34 assets, SO comes in at #26 by 3-year correlation. The last year tells two different stories: FRNM led by 33.7 percentage points, +32.3% for FRNM against -1.4% for SO.
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 SO: side by side
| FRNM (Freenome, Inc.) | SO (Southern Company) | |
|---|---|---|
| 1-year return | +32.3% | -1.4% |
| 5-year return | n/a | +62.6% |
| Volatility (ann.) | 21.1% | 16.5% |
| Beta vs S&P 500 | 0.03 | -0.02 |
| Max drawdown (3Y) | -29.6% | -15.0% |
| Market cap | $1.5B | $102.4B |
| P/E (trailing) | – | 21.7 |
| Dividend yield | 0.00% | 3.32% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | FRNM | SO |
|---|---|---|
| 2022 | – | +8.2% |
| 2023 | – | +2.2% |
| 2024 | – | +21.7% |
| 2025 | +28.0% | +9.5% |
| 2026 | +7.0% | +4.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and SO good diversifiers for each other?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FRNM and SO?
The FRNM/SO correlation stands at -0.25 on a 3-year window (1 year: -0.32, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SO a good diversifier for FRNM?
Yes: at -0.25, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.25 mean?
On the −1 to +1 scale, -0.25 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.
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Related comparisons
Hubs: FRNM correlations · SO correlations
