FSTR vs LICN: Correlation
How closely do L.B. Foster Company (FSTR) and Lichen International Limited - Class A (LICN) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FSTR and LICN?
Over the past 3 years, FSTR and LICN moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.22) runs above the 3-year figure (-0.31). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -123104.5 %².
LICN is close to the least connected end of FSTR's tracked universe, ranking #14 of 16. The last year tells two different stories: FSTR led by 117.5 percentage points, +42.8% for FSTR against -74.7% for LICN. Note the risk asymmetry: LICN runs 183.8 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.
FSTR vs LICN: side by side
| FSTR (L.B. Foster Company) | LICN (Lichen International Limited - Class A) | |
|---|---|---|
| 1-year return | +42.8% | -74.7% |
| 5-year return | +119.1% | n/a |
| Volatility (ann.) | 46.4% | 8528.0% |
| Beta vs S&P 500 | 1.23 | -80.22 |
| Max drawdown (3Y) | -45.9% | -98.4% |
| Market cap | $0.4B | – |
| P/E (trailing) | 35.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FSTR | LICN |
|---|---|---|
| 2022 | -29.6% | – |
| 2023 | +127.2% | – |
| 2024 | +22.3% | -91.0% |
| 2025 | +0.2% | +1484.3% |
| 2026 | +40.4% | -56.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FSTR and LICN good diversifiers for each other?
Yes. With a correlation of -0.31, FSTR and LICN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FSTR and LICN?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with 0.22 over the last year and n/a over 5 years.
Is LICN a good diversifier for FSTR?
Yes. With a correlation of -0.31, FSTR and LICN have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/fstr-vs-licn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fstr-vs-licn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FSTR correlations · LICN correlations
