FRNM vs WEC: Correlation
How closely do Freenome, Inc. (FRNM) and WEC Energy Group (WEC) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRNM and WEC?
Over the past 3 years, FRNM and WEC moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.30) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -80.2 %².
By 3-year correlation, WEC places #19 of the 34 assets tracked against FRNM. Correlation aside, the last 12 months split them widely, with FRNM ahead by 30.2 points (+32.3% versus +2.1%).
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 WEC: side by side
| FRNM (Freenome, Inc.) | WEC (WEC Energy Group) | |
|---|---|---|
| 1-year return | +32.3% | +2.1% |
| 5-year return | n/a | +32.7% |
| Volatility (ann.) | 21.1% | 16.9% |
| Beta vs S&P 500 | 0.03 | 0.02 |
| Max drawdown (3Y) | -29.6% | -11.6% |
| Market cap | $1.5B | $34.6B |
| P/E (trailing) | – | 20.6 |
| Dividend yield | 0.00% | 3.43% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | FRNM | WEC |
|---|---|---|
| 2022 | – | -0.5% |
| 2023 | – | -7.0% |
| 2024 | – | +16.1% |
| 2025 | +28.0% | +16.0% |
| 2026 | +7.0% | +3.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRNM and WEC good diversifiers for each other?
Yes. With a correlation of -0.23, FRNM and WEC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FRNM and WEC?
The FRNM/WEC correlation stands at -0.23 on a 3-year window (1 year: -0.30, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is WEC a good diversifier for FRNM?
Yes. With a correlation of -0.23, FRNM and WEC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
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-wec.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/frnm-vs-wec/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRNM correlations · WEC correlations
