FSLR vs INLX: Correlation
How closely do First Solar (FSLR) and Intellinetics, Inc. (INLX) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSLR and INLX?
Over the past 3 years, FSLR and INLX moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.21 over 1 year against -0.20 over 3. Over 5 years the correlation is -0.04, and the annualized covariance of weekly returns is -682.5 %².
Among the 34 assets we track against FSLR, INLX ranks #26 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FSLR outperformed by 56.3 percentage points (+9.9% for FSLR against -46.4% for INLX).
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.
FSLR vs INLX: side by side
| FSLR (First Solar) | INLX (Intellinetics, Inc.) | |
|---|---|---|
| 1-year return | +9.9% | -46.4% |
| 5-year return | +119.6% | +7.4% |
| Volatility (ann.) | 56.2% | 60.0% |
| Beta vs S&P 500 | 1.14 | -0.07 |
| Max drawdown (3Y) | -60.0% | -65.9% |
| Market cap | $22.6B | – |
| P/E (trailing) | 12.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Information Technology | US Listed |
Year-by-year returns
| Year | FSLR | INLX |
|---|---|---|
| 2022 | +71.9% | -43.5% |
| 2023 | +15.0% | +18.5% |
| 2024 | +2.3% | +171.7% |
| 2025 | +48.2% | -42.0% |
| 2026 | -19.6% | -34.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSLR and INLX good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between FSLR and INLX?
As of 2026-08-27, the correlation of weekly returns between FSLR and INLX is -0.20 over 3 years, -0.21 over 1 year and -0.04 over 5 years.
Is INLX a good diversifier for FSLR?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/fslr-vs-inlx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fslr-vs-inlx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FSLR correlations · INLX correlations
