FUND vs ORA: Correlation
How closely do Sprott Focus Trust, Inc. - Closed End Fund (FUND) and Ormat Technologies, Inc. (ORA) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUND and ORA?
Over the past 3 years, FUND and ORA moved with a correlation of 0.48, which is moderate. The past 12 months show a weaker link (0.28) than the 3-year average (0.48). Over 5 years the correlation is 0.47, and the annualized covariance of weekly returns is 232.9 %².
Among the 32 assets we track against FUND, ORA ranks #20 by 3-year correlation. The last year tells two different stories: FUND led by 24.9 percentage points, +39.1% for FUND against +14.2% for ORA. Risk is not evenly split, since ORA carries 1.5 times the volatility of the other side.
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.
FUND vs ORA: side by side
| FUND (Sprott Focus Trust, Inc. - Closed End Fund) | ORA (Ormat Technologies, Inc.) | |
|---|---|---|
| 1-year return | +39.1% | +14.2% |
| 5-year return | +83.0% | +53.7% |
| Volatility (ann.) | 17.9% | 27.5% |
| Beta vs S&P 500 | 0.77 | 0.55 |
| Max drawdown (3Y) | -18.2% | -35.0% |
| Market cap | $0.3B | $6.5B |
| P/E (trailing) | 5.8 | 50.7 |
| Dividend yield | 5.36% | 0.46% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FUND | ORA |
|---|---|---|
| 2022 | -1.2% | +9.7% |
| 2023 | +6.9% | -11.8% |
| 2024 | -1.0% | -10.1% |
| 2025 | +27.5% | +64.1% |
| 2026 | +26.8% | -4.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUND and ORA good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FUND and ORA?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.28 over the last year and 0.47 over 5 years.
Is ORA a good diversifier for FUND?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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.
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Related comparisons
Hubs: FUND correlations · ORA correlations
