FSI vs. AGX

Last updated Jun 3, 2026

FSI (Flexible Solutions International Inc.) and AGX (Argan, Inc.) are both stocks. FSI operates in Specialty Chemicals (Basic Materials), while AGX operates in Engineering & Construction (Industrials). Over the past 10 years, FSI returned 18.61%/yr vs 38.10%/yr for AGX. At a 0.07 correlation, their price movements are largely independent.

Performance

FSI vs. AGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Flexible Solutions International Inc. (FSI) and Argan, Inc. (AGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSI achieves a -3.35% return, which is significantly lower than AGX's 112.09% return. Over the past 10 years, FSI has underperformed AGX with an annualized return of 18.61%, while AGX has yielded a comparatively higher 38.10% annualized return.

FSI

• 1D: -0.15%
• 1M: 0.78%
• YTD: -3.35%
• 6M: -0.46%
• 1Y: 48.74%
• 3Y*: 33.64%
• 5Y*: 16.59%
• 10Y*: 18.61%

AGX

• 1D: 2.51%
• 1M: -5.57%
• YTD: 112.09%
• 6M: 85.89%
• 1Y: 217.67%
• 3Y*: 156.33%
• 5Y*: 71.91%
• 10Y*: 38.10%

*Multi-year figures are annualized to reflect compound growth (CAGR)

FSI vs. AGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
FSI Flexible Solutions International Inc.	-3.35%	90.62%	98.05%	-37.34%	-20.31%	56.22%	-3.11%	108.69%	-25.82%	36.87%
AGX Argan, Inc.	112.09%	130.61%	198.31%	30.24%	-2.01%	-11.64%	19.15%	8.62%	-14.32%	-34.26%

Correlation

The correlation between FSI and AGX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.23
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.12
Correlation (All Time) Calculated using the full available price history since Nov 8, 1999	0.07

The correlation between FSI and AGX shifts across timeframes, from 0.07 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.

Fundamentals

EPS FSI : $0.14 AGX : $9.73
PE Ratio FSI : 45.18 AGX : 68.14
PEG Ratio FSI : 2.66 AGX : 1.24
PS Ratio FSI : 2.26 AGX : 9.94
Total Revenue (TTM) FSI : $38.56M AGX : $944.61M
Gross Profit (TTM) FSI : $12.53M AGX : $193.68M
EBITDA (TTM) FSI : $6.56M AGX : $134.70M

Return for Risk

FSI vs. AGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

FSI

FSI Risk / Return Rank: 61
FSI Sharpe Ratio Rank: 64
FSI Sortino Ratio Rank: 66
FSI Omega Ratio Rank: 64
FSI Calmar Ratio Rank: 59
FSI Martin Ratio Rank: 54

AGX

AGX Risk / Return Rank: 93
AGX Sharpe Ratio Rank: 94
AGX Sortino Ratio Rank: 92
AGX Omega Ratio Rank: 89
AGX Calmar Ratio Rank: 96
AGX Martin Ratio Rank: 96

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

FSI vs. AGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Flexible Solutions International Inc. (FSI) and Argan, Inc. (AGX). 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.

	FSI	AGX	Difference
Sharpe ratio Return per unit of total volatility	0.75	2.94	-2.20
Sortino ratio Return per unit of downside risk	1.59	3.47	-1.88
Omega ratio Gain probability vs. loss probability	1.19	1.43	-0.24
Calmar ratio Return relative to maximum drawdown	0.89	8.70	-7.81
Martin ratio Return relative to average drawdown	1.37	23.06	-21.69
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSI vs. AGX - Sharpe Ratio Comparison

The current FSI Sharpe Ratio is 0.75, which is lower than the AGX Sharpe Ratio of 2.94. The chart below compares the historical Sharpe Ratios of FSI and AGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	FSI	AGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	2.94	-2.20
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.25	1.43	-1.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.29	0.83	-0.55
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.05	+0.06

Drawdowns

FSI vs. AGX - Drawdown Comparison

The maximum FSI drawdown since its inception was -88.76%, smaller than the maximum AGX drawdown of -94.37%. Use the drawdown chart below to compare losses from any high point for FSI and AGX.

Drawdown Indicators

	FSI	AGX	Difference
Max Drawdown Largest peak-to-trough decline	-88.76%	-94.37%	+5.61%
Max Drawdown (1Y) Largest decline over 1 year	-53.51%	-24.96%	-28.55%
Max Drawdown (3Y) Largest decline over 3 years	-54.18%	-43.75%	-10.43%
Max Drawdown (5Y) Largest decline over 5 years	-68.62%	-43.75%	-24.87%
Max Drawdown (10Y) Largest decline over 10 years	-75.74%	-54.61%	-21.13%
Current Drawdown Current decline from peak	-42.22%	-10.50%	-31.72%
Average Drawdown Average peak-to-trough decline	-49.46%	-48.37%	-1.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	34.69%	9.42%	+25.27%

Volatility

FSI vs. AGX - Volatility Comparison

The current volatility for Flexible Solutions International Inc. (FSI) is 11.41%, while Argan, Inc. (AGX) has a volatility of 14.62%. This indicates that FSI experiences smaller price fluctuations and is considered to be less risky than AGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSI	AGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	11.41%	14.62%	-3.21%
Volatility (6M) Calculated over the trailing 6-month period	33.69%	55.20%	-21.51%
Volatility (1Y) Calculated over the trailing 1-year period	65.68%	74.51%	-8.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	66.05%	50.60%	+15.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	65.34%	46.01%	+19.33%

Dividends

FSI vs. AGX - Dividend Comparison

FSI has not paid dividends to shareholders, while AGX's dividend yield for the trailing twelve months is around 0.28%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGX Argan, Inc.	0.28%	0.52%	0.93%	2.24%	2.71%	1.94%	7.31%	2.49%	1.98%	4.44%	1.42%	2.16%
FSI Flexible Solutions International Inc.	0.00%	1.49%	2.77%	2.62%	0.00%	0.00%	0.00%	7.78%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both FSI and AGX in my portfolio?

FSI and AGX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSI or AGX?

AGX has higher volatility (14.62%) compared to FSI (11.41%). In terms of maximum drawdown, FSI dropped -88.76% vs AGX's -94.37%.

Which has better risk-adjusted returns?

AGX currently has the higher Sharpe Ratio (2.94 vs 0.75), 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.