FSK vs XWEL: Correlation
FS KKR Capital Corp. (FSK) and XWELL, Inc. (XWEL) show a negative relationship: their 3-year correlation of weekly returns is -0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSK and XWEL?
On 3 years of weekly data the FSK/XWEL correlation comes out at -0.35, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.47 versus -0.35 over 3 years. The 5-year figure is -0.26, and annualized covariance runs at -1752.7 %².
XWEL is close to the least connected end of FSK's tracked universe, ranking #17 of 17. Over the last 12 months XWEL came out ahead by 11.6 percentage points (-19.1% against -7.5%). Note the risk asymmetry: XWEL runs 7.1 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.
FSK vs XWEL: side by side
| FSK (FS KKR Capital Corp.) | XWEL (XWELL, Inc.) | |
|---|---|---|
| 1-year return | -19.1% | -7.5% |
| 5-year return | +10.8% | -97.2% |
| Volatility (ann.) | 26.7% | 188.4% |
| Beta vs S&P 500 | 0.63 | 0.41 |
| Max drawdown (3Y) | -51.0% | -92.8% |
| Market cap | $3.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 17.68% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSK | XWEL |
|---|---|---|
| 2022 | -4.7% | -82.2% |
| 2023 | +33.0% | -75.8% |
| 2024 | +25.7% | -13.2% |
| 2025 | -20.4% | -69.5% |
| 2026 | -9.9% | +115.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSK and XWEL good diversifiers for each other?
Yes. With a correlation of -0.35, FSK and XWEL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FSK and XWEL?
As of 2026-08-27, the correlation of weekly returns between FSK and XWEL is -0.35 over 3 years, -0.47 over 1 year and -0.26 over 5 years.
Is XWEL a good diversifier for FSK?
Yes. With a correlation of -0.35, FSK and XWEL have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.35 mean?
On the −1 to +1 scale, -0.35 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/fsk-vs-xwel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fsk-vs-xwel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FSK correlations · XWEL correlations
