FWDI vs LDI: Correlation
How closely do Forward Industries, Inc. (FWDI) and loanDepot, Inc. (LDI) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FWDI and LDI?
On 3 years of weekly data the FWDI/LDI correlation comes out at 0.42, moderate. The link has tightened recently: the 1-year correlation (0.55) runs above the 3-year figure (0.42). The 5-year figure is 0.36, and annualized covariance runs at 4421.7 %².
Within FWDI's tracked universe of 23 assets, LDI comes in at #5 by 3-year correlation. Their 12-month results are close: -50.1% for FWDI against -53.7% for LDI.
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.
FWDI vs LDI: side by side
| FWDI (Forward Industries, Inc.) | LDI (loanDepot, Inc.) | |
|---|---|---|
| 1-year return | -50.1% | -53.7% |
| 5-year return | -73.8% | -87.7% |
| Volatility (ann.) | 123.1% | 85.9% |
| Beta vs S&P 500 | -0.00 | 1.47 |
| Max drawdown (3Y) | -90.9% | -81.3% |
| Market cap | $0.5B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FWDI | LDI |
|---|---|---|
| 2022 | -31.4% | -64.9% |
| 2023 | -31.8% | +113.3% |
| 2024 | -32.2% | -42.0% |
| 2025 | +33.5% | +1.5% |
| 2026 | +0.8% | -53.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FWDI and LDI good diversifiers for each other?
Reasonably. At 0.42, FWDI and LDI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FWDI and LDI?
The FWDI/LDI correlation stands at 0.42 on a 3-year window (1 year: 0.55, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is LDI a good diversifier for FWDI?
Reasonably. At 0.42, FWDI and LDI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.42 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/fwdi-vs-ldi.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fwdi-vs-ldi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FWDI correlations · LDI correlations
