FAIRX vs. JOE
FAIRX (Fairholme Fund) is Large Cap Value Equities fund managed by Fairholme, while JOE (The St. Joe Company) is a stock. Over the past 10 years, FAIRX returned 9.71%/yr vs 15.03%/yr for JOE. A 0.65 correlation means they provide meaningful diversification when combined.
Performance
FAIRX vs. JOE - Performance Comparison
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Returns By Period
In the year-to-date period, FAIRX achieves a 8.33% return, which is significantly lower than JOE's 12.23% return. Over the past 10 years, FAIRX has underperformed JOE with an annualized return of 9.71%, while JOE has yielded a comparatively higher 15.03% annualized return.
FAIRX
- 1D
- -0.77%
- 1M
- 1.35%
- YTD
- 8.33%
- 6M
- 8.39%
- 1Y
- 32.29%
- 3Y*
- 14.58%
- 5Y*
- 8.98%
- 10Y*
- 9.71%
JOE
- 1D
- 1.52%
- 1M
- 4.18%
- YTD
- 12.23%
- 6M
- 12.32%
- 1Y
- 41.56%
- 3Y*
- 15.36%
- 5Y*
- 9.33%
- 10Y*
- 15.03%
FAIRX vs. JOE - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAIRX Fairholme Fund | 8.33% | 29.49% | -17.44% | 46.72% | -20.49% | 6.87% | 47.76% | 32.06% | -23.18% | -5.94% |
JOE The St. Joe Company | 12.23% | 33.68% | -24.64% | 57.12% | -25.07% | 23.45% | 114.56% | 50.57% | -27.04% | -5.00% |
Correlation
The correlation between FAIRX and JOE is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.98 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.88 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 1999 | 0.65 |
Over the past year, FAIRX and JOE have become more correlated (0.98) than their long-term average of 0.65, meaning their price movements have been converging.
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Return for Risk
FAIRX vs. JOE — Risk / Return Rank
FAIRX
JOE
FAIRX vs. JOE - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Fairholme Fund (FAIRX) and The St. Joe Company (JOE). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| FAIRX | JOE | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.25 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.47 | -0.06 |
| Martin ratioReturn relative to average drawdown | 6.44 | 6.62 | -0.18 |
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Drawdowns
FAIRX vs. JOE - Drawdown Comparison
The maximum FAIRX drawdown since its inception was -51.28%, smaller than the maximum JOE drawdown of -84.33%. Use the drawdown chart below to compare losses from any high point for FAIRX and JOE.
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Drawdown Indicators
| FAIRX | JOE | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.28% | -84.33% | +33.05% |
Max Drawdown (1Y)Largest decline over 1 year | -13.96% | -16.94% | +2.98% |
Max Drawdown (3Y)Largest decline over 3 years | -27.95% | -35.71% | +7.76% |
Max Drawdown (5Y)Largest decline over 5 years | -41.50% | -48.43% | +6.93% |
Max Drawdown (10Y)Largest decline over 10 years | -41.50% | -48.43% | +6.93% |
Current DrawdownCurrent decline from peak | -8.80% | -15.15% | +6.35% |
Average DrawdownAverage peak-to-trough decline | -11.59% | -51.25% | +39.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.19% | 6.30% | -1.11% |
Volatility
FAIRX vs. JOE - Volatility Comparison
The current volatility for Fairholme Fund (FAIRX) is 4.56%, while The St. Joe Company (JOE) has a volatility of 5.85%. This indicates that FAIRX experiences smaller price fluctuations and is considered to be less risky than JOE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAIRX | JOE | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.56% | 5.85% | -1.29% |
Volatility (6M)Calculated over the trailing 6-month period | 17.67% | 21.10% | -3.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 25.11% | 30.97% | -5.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.28% | 32.28% | -6.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 24.09% | 32.42% | -8.33% |
Dividends
FAIRX vs. JOE - Dividend Comparison
FAIRX's dividend yield for the trailing twelve months is around 0.54%, less than JOE's 0.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAIRX Fairholme Fund | 0.54% | 0.58% | 0.71% | 0.41% | 0.00% | 0.00% | 0.57% | 0.83% | 2.23% | 1.29% | 7.29% | 69.79% |
JOE The St. Joe Company | 0.94% | 0.98% | 1.16% | 0.73% | 1.03% | 0.61% | 0.16% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.98, FAIRX and JOE move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
JOE has higher volatility (5.85%) compared to FAIRX (4.56%). In terms of maximum drawdown, FAIRX dropped -51.28% vs JOE's -84.33%.
JOE currently has the higher Sharpe Ratio (1.35 vs 1.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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