PHUN vs ROMA: Correlation
Phunware, Inc. (PHUN) and Roma Green Finance Limited - Class A (ROMA) show a negative relationship: their 3-year correlation of weekly returns is -0.28.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHUN and ROMA?
On 3 years of weekly data the PHUN/ROMA correlation comes out at -0.28, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.01) than the 3-year average (-0.28). The 5-year figure is n/a, and annualized covariance runs at -5927.8 %².
ROMA is close to the least connected end of PHUN's tracked universe, ranking #13 of 13. Correlation aside, the last 12 months split them widely, with ROMA ahead by 283.7 points (-20.1% versus +263.6%).
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.
PHUN vs ROMA: side by side
| PHUN (Phunware, Inc.) | ROMA (Roma Green Finance Limited - Class A) | |
|---|---|---|
| 1-year return | -20.1% | +263.6% |
| 5-year return | -96.0% | n/a |
| Volatility (ann.) | 162.6% | 122.9% |
| Beta vs S&P 500 | 1.61 | 0.47 |
| Max drawdown (3Y) | -92.6% | -88.0% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PHUN | ROMA |
|---|---|---|
| 2022 | -70.6% | – |
| 2023 | -89.4% | – |
| 2024 | +26.8% | – |
| 2025 | -64.4% | +116.7% |
| 2026 | +14.1% | +442.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHUN and ROMA good diversifiers for each other?
Yes. With a correlation of -0.28, PHUN and ROMA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PHUN and ROMA?
As of 2026-08-27, the correlation of weekly returns between PHUN and ROMA is -0.28 over 3 years, 0.01 over 1 year and n/a over 5 years.
Is ROMA a good diversifier for PHUN?
Yes. With a correlation of -0.28, PHUN and ROMA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.28 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/phun-vs-roma.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/phun-vs-roma/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PHUN correlations · ROMA correlations
