FSTR vs. REFI

Last updated Jun 4, 2026

FSTR (L.B. Foster Company) and REFI (Chicago Atlantic Real Estate Finance, Inc.) are both stocks. FSTR operates in Railroads (Industrials), while REFI operates in REIT - Mortgage (Real Estate). Over the past 3 years, FSTR returned 45.42%/yr vs 4.02%/yr for REFI. At a 0.20 correlation, their price movements are largely independent.

Performance

FSTR vs. REFI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in L.B. Foster Company (FSTR) and Chicago Atlantic Real Estate Finance, Inc. (REFI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, FSTR achieves a 53.69% return, which is significantly higher than REFI's -6.00% return.

FSTR

• 1D: -2.54%
• 1M: 13.17%
• YTD: 53.69%
• 6M: 51.67%
• 1Y: 115.39%
• 3Y*: 45.42%
• 5Y*: 17.24%
• 10Y*: 13.49%

REFI

• 1D: -1.95%
• 1M: -7.53%
• YTD: -6.00%
• 6M: -6.37%
• 1Y: -11.23%
• 3Y*: 4.02%
• 5Y*: —
• 10Y*: —

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

FSTR vs. REFI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
FSTR L.B. Foster Company	53.69%	0.19%	22.33%	127.17%	-29.60%	-10.13%
REFI Chicago Atlantic Real Estate Finance, Inc.	-6.00%	-8.70%	8.69%	23.70%	3.35%	0.97%

Correlation

The correlation between FSTR and REFI is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.29
Correlation (All Time) Calculated using the full available price history since Dec 9, 2021	0.20

Over the past year, FSTR and REFI have become more correlated (0.43) than their long-term average of 0.20, meaning their price movements have been converging.

Fundamentals

Market Cap FSTR : $438.39M REFI : $237.61M
EPS FSTR : $1.04 REFI : $226.63
PE Ratio FSTR : 39.99 REFI : 0.05
PEG Ratio FSTR : 0.06 REFI : 0.00
PS Ratio FSTR : 0.79 REFI : 5.35
PB Ratio FSTR : 2.52 REFI : 0.00
Total Revenue (TTM) FSTR : $563.36M REFI : $44.35M
Gross Profit (TTM) FSTR : $119.30M REFI : $42.41M
EBITDA (TTM) FSTR : $37.88M REFI : $8.16M

Return for Risk

FSTR vs. REFI — Risk / Return Rank

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

FSTR

FSTR Risk / Return Rank: 94
FSTR Sharpe Ratio Rank: 93
FSTR Sortino Ratio Rank: 95
FSTR Omega Ratio Rank: 92
FSTR Calmar Ratio Rank: 95
FSTR Martin Ratio Rank: 95

REFI

REFI Risk / Return Rank: 15
REFI Sharpe Ratio Rank: 20
REFI Sortino Ratio Rank: 19
REFI Omega Ratio Rank: 19
REFI Calmar Ratio Rank: 12
REFI Martin Ratio Rank: 7

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.

FSTR vs. REFI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for L.B. Foster Company (FSTR) and Chicago Atlantic Real Estate Finance, Inc. (REFI). 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.

	FSTR	REFI	Difference
Sharpe ratio: Return per unit of total volatility	2.80	-0.48	+3.29
Sortino ratio: Return per unit of downside risk	4.09	-0.53	+4.62
Omega ratio: Gain probability vs. loss probability	1.48	0.94	+0.55
Calmar ratio: Return relative to maximum drawdown	7.55	-0.77	+8.31
Martin ratio: Return relative to average drawdown	20.29	-1.43	+21.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

FSTR vs. REFI - Sharpe Ratio Comparison

The current FSTR Sharpe Ratio is 2.80, which is higher than the REFI Sharpe Ratio of -0.48. The chart below compares the historical Sharpe Ratios of FSTR and REFI, 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

	FSTR	REFI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.80	-0.48	+3.29
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.28	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.11	0.18	-0.06

Drawdowns

FSTR vs. REFI - Drawdown Comparison

The maximum FSTR drawdown since its inception was -84.47%, which is greater than REFI's maximum drawdown of -26.55%. Use the drawdown chart below to compare losses from any high point for FSTR and REFI.

Drawdown Indicators

	FSTR	REFI	Difference
Max Drawdown Largest peak-to-trough decline	-84.47%	-26.55%	-57.92%
Max Drawdown (1Y) Largest decline over 1 year	-15.38%	-14.71%	-0.67%
Max Drawdown (3Y) Largest decline over 3 years	-45.90%	-19.25%	-26.65%
Max Drawdown (5Y) Largest decline over 5 years	-53.25%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-70.39%	—	—
Current Drawdown Current decline from peak	-26.47%	-18.51%	-7.96%
Average Drawdown Average peak-to-trough decline	-41.82%	-9.87%	-31.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.71%	7.88%	-2.17%

Volatility

FSTR vs. REFI - Volatility Comparison

L.B. Foster Company (FSTR) has a higher volatility of 14.04% compared to Chicago Atlantic Real Estate Finance, Inc. (REFI) at 8.18%. This indicates that FSTR's price experiences larger fluctuations and is considered to be riskier than REFI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	FSTR	REFI	Difference
Volatility (1M) Calculated over the trailing 1-month period	14.04%	8.18%	+5.86%
Volatility (6M) Calculated over the trailing 6-month period	31.10%	16.85%	+14.25%
Volatility (1Y) Calculated over the trailing 1-year period	41.40%	23.42%	+17.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	41.59%	24.32%	+17.27%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	48.36%	24.32%	+24.04%

Dividends

FSTR vs. REFI - Dividend Comparison

FSTR has not paid dividends to shareholders, while REFI's dividend yield for the trailing twelve months is around 17.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FSTR L.B. Foster Company	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.88%	1.17%
REFI Chicago Atlantic Real Estate Finance, Inc.	17.00%	15.33%	13.36%	13.41%	13.93%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials

Frequently Asked Questions

Can I hold both FSTR and REFI in my portfolio?

FSTR and REFI have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, FSTR or REFI?

FSTR has higher volatility (14.04%) compared to REFI (8.18%). In terms of maximum drawdown, FSTR dropped -84.47% vs REFI's -26.55%.

Which has better risk-adjusted returns?

FSTR currently has the higher Sharpe Ratio (2.80 vs -0.48), 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.