FRPT vs ITRI: Correlation
How closely do Freshpet, Inc. (FRPT) and Itron, Inc. (ITRI) trade together? Their weekly returns over three years give a correlation of 0.47, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRPT and ITRI?
On 3 years of weekly data the FRPT/ITRI correlation comes out at 0.47, moderate. Little has changed lately, as the 1-year reading of 0.45 lands near the 3-year figure. The 5-year figure is 0.36, and annualized covariance runs at 838.4 %².
ITRI is one of the assets that tracks FRPT most closely: it ranks #1 out of the 13 assets we track against FRPT. Correlation aside, the last 12 months split them widely, with FRPT ahead by 46.6 points (+26.7% versus -19.9%).
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.
FRPT vs ITRI: side by side
| FRPT (Freshpet, Inc.) | ITRI (Itron, Inc.) | |
|---|---|---|
| 1-year return | +26.7% | -19.9% |
| 5-year return | -42.7% | +17.0% |
| Volatility (ann.) | 45.9% | 38.9% |
| Beta vs S&P 500 | 1.15 | 1.14 |
| Max drawdown (3Y) | -70.9% | -43.6% |
| Market cap | $3.5B | $4.3B |
| P/E (trailing) | 19.4 | 16.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FRPT | ITRI |
|---|---|---|
| 2022 | -44.6% | -26.1% |
| 2023 | +64.4% | +49.1% |
| 2024 | +70.7% | +43.8% |
| 2025 | -58.9% | -14.5% |
| 2026 | +19.4% | +6.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRPT and ITRI good diversifiers for each other?
Reasonably. At 0.47, FRPT and ITRI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FRPT and ITRI?
The FRPT/ITRI correlation stands at 0.47 on a 3-year window (1 year: 0.45, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is ITRI a good diversifier for FRPT?
Reasonably. At 0.47, FRPT and ITRI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.47 mean?
A reading of 0.47 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/frpt-vs-itri.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/frpt-vs-itri/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRPT correlations · ITRI correlations
