FSLR vs RSG: Correlation
How closely do First Solar (FSLR) and Republic Services (RSG) trade together? Their weekly returns over three years give a correlation of -0.25, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSLR and RSG?
Over the past 3 years, FSLR and RSG moved with a correlation of -0.25, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.39) runs below the 3-year figure (-0.25). Over 5 years the correlation is -0.03, and the annualized covariance of weekly returns is -227.8 %².
Among the 34 assets we track against FSLR, RSG sits near the bottom by co-movement, at rank #34. Their recent paths diverged sharply: over the last 12 months FSLR outperformed by 15.5 percentage points (+9.9% for FSLR against -5.6% for RSG). Across three years, the rolling one-year figure varied moderately, from -0.42 to 0.07. One caveat on sizing: FSLR is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 RSG: side by side
| FSLR (First Solar) | RSG (Republic Services) | |
|---|---|---|
| 1-year return | +9.9% | -5.6% |
| 5-year return | +119.6% | +87.9% |
| Volatility (ann.) | 56.2% | 16.2% |
| Beta vs S&P 500 | 1.14 | 0.17 |
| Max drawdown (3Y) | -60.0% | -22.5% |
| Market cap | $22.6B | $67.1B |
| P/E (trailing) | 12.7 | 31.0 |
| Dividend yield | 0.00% | 1.13% |
| Sector / category | Information Technology | Industrials |
Year-by-year returns
| Year | FSLR | RSG |
|---|---|---|
| 2022 | +71.9% | -6.2% |
| 2023 | +15.0% | +29.6% |
| 2024 | +2.3% | +23.0% |
| 2025 | +48.2% | +6.4% |
| 2026 | -19.6% | +4.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSLR and RSG good diversifiers for each other?
Yes. With a correlation of -0.25, FSLR and RSG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FSLR and RSG?
Using weekly returns as of 2026-08-27: -0.25 over 3 years, with -0.39 over the last year and -0.03 over 5 years.
Is RSG a good diversifier for FSLR?
Yes. With a correlation of -0.25, FSLR and RSG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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/fslr-vs-rsg.json
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Related comparisons
Hubs: FSLR correlations · RSG correlations
