FWRD vs TACT: Correlation
Forward Air Corporation (FWRD) and TransAct Technologies Incorporated (TACT) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FWRD and TACT?
Over the past 3 years, FWRD and TACT moved with a correlation of 0.37, which is moderate. The link has loosened recently: the 1-year correlation (0.19) runs below the 3-year figure (0.37). Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 1279.0 %².
Among the 12 assets we track against FWRD, TACT ranks #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months TACT outperformed by 67.8 percentage points (-44.3% for FWRD against +23.5% for TACT). Note the risk asymmetry: FWRD runs 1.9 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.
FWRD vs TACT: side by side
| FWRD (Forward Air Corporation) | TACT (TransAct Technologies Incorporated) | |
|---|---|---|
| 1-year return | -44.3% | +23.5% |
| 5-year return | -79.7% | -64.0% |
| Volatility (ann.) | 81.4% | 42.2% |
| Beta vs S&P 500 | 1.69 | 0.56 |
| Max drawdown (3Y) | -89.2% | -59.0% |
| Market cap | $0.6B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FWRD | TACT |
|---|---|---|
| 2022 | -12.6% | -42.0% |
| 2023 | -39.3% | +10.4% |
| 2024 | -48.7% | -41.4% |
| 2025 | -22.5% | -2.2% |
| 2026 | -29.2% | +26.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FWRD and TACT good diversifiers for each other?
Reasonably. At 0.37, FWRD and TACT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FWRD and TACT?
The FWRD/TACT correlation stands at 0.37 on a 3-year window (1 year: 0.19, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is TACT a good diversifier for FWRD?
Reasonably. At 0.37, FWRD and TACT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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.
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Related comparisons
Hubs: FWRD correlations · TACT correlations
