FWDI vs PCVX: Correlation
How closely do Forward Industries, Inc. (FWDI) and Vaxcyte, Inc. (PCVX) trade together? Their weekly returns over three years give a correlation of -0.24, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FWDI and PCVX?
Across a 3-year window, the weekly returns of FWDI and PCVX correlate at -0.24, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.11 versus -0.24 over 3 years. Stretching to 5 years gives -0.14, with an annualized covariance of -1738.7 %².
Among the 23 assets we track against FWDI, PCVX sits near the bottom by co-movement, at rank #21. The last year tells two different stories: PCVX led by 150.3 percentage points, -50.1% for FWDI against +100.2% for PCVX. Risk is not evenly split, since FWDI carries 2.1 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.
FWDI vs PCVX: side by side
| FWDI (Forward Industries, Inc.) | PCVX (Vaxcyte, Inc.) | |
|---|---|---|
| 1-year return | -50.1% | +100.2% |
| 5-year return | -73.8% | +130.8% |
| Volatility (ann.) | 123.1% | 57.9% |
| Beta vs S&P 500 | -0.00 | 1.40 |
| Max drawdown (3Y) | -90.9% | -76.2% |
| Market cap | $0.5B | $9.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FWDI | PCVX |
|---|---|---|
| 2022 | -31.4% | +101.6% |
| 2023 | -31.8% | +31.0% |
| 2024 | -32.2% | +30.4% |
| 2025 | +33.5% | -43.6% |
| 2026 | +0.8% | +32.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FWDI and PCVX good diversifiers for each other?
Yes. With a correlation of -0.24, FWDI and PCVX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FWDI and PCVX?
The FWDI/PCVX correlation stands at -0.24 on a 3-year window (1 year: -0.11, 5 years: -0.14), computed from weekly returns as of 2026-08-27.
Is PCVX a good diversifier for FWDI?
Yes. With a correlation of -0.24, FWDI and PCVX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
On the −1 to +1 scale, -0.24 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/fwdi-vs-pcvx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fwdi-vs-pcvx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FWDI correlations · PCVX correlations
