FRSH vs PEG: Correlation
How closely do Freshworks Inc. (FRSH) and Public Service Enterprise Group (PEG) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FRSH and PEG?
On 3 years of weekly data the FRSH/PEG correlation comes out at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.37 versus -0.21 over 3 years. The 5-year figure is -0.00, and annualized covariance runs at -198.9 %².
Out of 28 assets tracked against FRSH, PEG lands near the bottom at #24. The trailing year gives FRSH the advantage: +0.6% versus -8.6%, a 9.2-point spread. Note the risk asymmetry: FRSH runs 2.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FRSH vs PEG: side by side
| FRSH (Freshworks Inc.) | PEG (Public Service Enterprise Group) | |
|---|---|---|
| 1-year return | +0.6% | -8.6% |
| 5-year return | -71.2% | +34.9% |
| Volatility (ann.) | 48.9% | 18.9% |
| Beta vs S&P 500 | 1.46 | 0.25 |
| Max drawdown (3Y) | -71.9% | -18.8% |
| Market cap | $3.6B | $36.5B |
| P/E (trailing) | 20.4 | 18.4 |
| Dividend yield | 0.00% | 3.51% |
| Sector / category | US Listed | Utilities |
Year-by-year returns
| Year | FRSH | PEG |
|---|---|---|
| 2022 | -44.0% | -5.1% |
| 2023 | +59.7% | +3.6% |
| 2024 | -31.2% | +42.6% |
| 2025 | -24.2% | -1.9% |
| 2026 | +11.8% | -7.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FRSH and PEG good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FRSH and PEG?
As of 2026-08-27, the correlation of weekly returns between FRSH and PEG is -0.21 over 3 years, -0.37 over 1 year and -0.00 over 5 years.
Is PEG a good diversifier for FRSH?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/frsh-vs-peg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/frsh-vs-peg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FRSH correlations · PEG correlations
