FWDI vs PFE: Correlation
Forward Industries, Inc. (FWDI) and Pfizer (PFE) show a negative relationship: their 3-year correlation of weekly returns is -0.15.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FWDI and PFE?
Across a 3-year window, the weekly returns of FWDI and PFE correlate at -0.15, negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.20 lands near the 3-year figure. Stretching to 5 years gives -0.11, with an annualized covariance of -444.2 %².
Within FWDI's tracked universe of 23 assets, PFE comes in at #13 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PFE outperformed by 69.7 percentage points (-50.1% for FWDI against +19.6% for PFE). Note the risk asymmetry: FWDI runs 5.2 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.
FWDI vs PFE: side by side
| FWDI (Forward Industries, Inc.) | PFE (Pfizer) | |
|---|---|---|
| 1-year return | -50.1% | +19.6% |
| 5-year return | -73.8% | -21.9% |
| Volatility (ann.) | 123.1% | 23.8% |
| Beta vs S&P 500 | -0.00 | 0.40 |
| Max drawdown (3Y) | -90.9% | -34.8% |
| Market cap | $0.5B | $159.7B |
| P/E (trailing) | – | 37.4 |
| Dividend yield | 0.00% | 6.08% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | FWDI | PFE |
|---|---|---|
| 2022 | -31.4% | -10.4% |
| 2023 | -31.8% | -41.3% |
| 2024 | -32.2% | -2.2% |
| 2025 | +33.5% | +0.6% |
| 2026 | +0.8% | +18.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FWDI and PFE good diversifiers for each other?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
FAQ
What is the correlation between FWDI and PFE?
As of 2026-08-27, the correlation of weekly returns between FWDI and PFE is -0.15 over 3 years, -0.20 over 1 year and -0.11 over 5 years.
Is PFE a good diversifier for FWDI?
By historical standards, yes. A correlation of -0.15 means the two rarely move for the same reasons.
What does a correlation of -0.15 mean?
On the −1 to +1 scale, -0.15 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-pfe.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fwdi-vs-pfe/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FWDI correlations · PFE correlations
