FWRG vs PVH: Correlation
First Watch Restaurant Group, Inc. (FWRG) and PVH Corp. (PVH) show a moderate relationship: their 3-year correlation of weekly returns is 0.46.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FWRG and PVH?
Across a 3-year window, the weekly returns of FWRG and PVH correlate at 0.46, moderate. The relationship has been stable: the 1-year correlation (0.48) sits close to the 3-year figure. Stretching to 5 years gives 0.44, with an annualized covariance of 986.2 %².
In FWRG's tracked universe of 11 assets, PVH sits right near the top at #3. Correlation aside, the last 12 months split them widely, with PVH ahead by 27.7 points (-34.3% versus -6.6%).
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.
FWRG vs PVH: side by side
| FWRG (First Watch Restaurant Group, Inc.) | PVH (PVH Corp.) | |
|---|---|---|
| 1-year return | -34.3% | -6.6% |
| 5-year return | -44.1% | -28.0% |
| Volatility (ann.) | 49.3% | 43.7% |
| Beta vs S&P 500 | 1.01 | 1.11 |
| Max drawdown (3Y) | -60.4% | -56.9% |
| Market cap | $0.8B | – |
| P/E (trailing) | 45.9 | 23.8 |
| Dividend yield | 0.00% | 0.19% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FWRG | PVH |
|---|---|---|
| 2022 | -19.3% | -33.7% |
| 2023 | +48.6% | +73.3% |
| 2024 | -7.4% | -13.3% |
| 2025 | -19.0% | -36.5% |
| 2026 | -17.9% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FWRG and PVH good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FWRG and PVH?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.48 over the last year and 0.44 over 5 years.
Is PVH a good diversifier for FWRG?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/fwrg-vs-pvh.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fwrg-vs-pvh/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FWRG correlations · PVH correlations
