FWRD vs. ACT
FWRD (Forward Air Corporation) and ACT (Enact Holdings, Inc.) are both stocks. FWRD operates in Integrated Freight & Logistics (Industrials), while ACT operates in Insurance - Specialty (Financial Services). Over the past 3 years, FWRD returned -50.19%/yr vs 23.63%/yr for ACT. At a 0.30 correlation, their price movements are largely independent.
Performance
FWRD vs. ACT - Performance Comparison
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Returns By Period
In the year-to-date period, FWRD achieves a -46.48% return, which is significantly lower than ACT's 14.10% return.
FWRD
- 1D
- 3.72%
- 1M
- 6.44%
- 6M
- -50.55%
- YTD
- -46.48%
- 1Y
- -51.11%
- 3Y*
- -50.19%
- 5Y*
- -31.35%
- 10Y*
- -10.72%
ACT
- 1D
- -0.51%
- 1M
- 6.47%
- 6M
- 11.56%
- YTD
- 14.10%
- 1Y
- 31.50%
- 3Y*
- 23.63%
- 5Y*
- —
- 10Y*
- —
FWRD vs. ACT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
FWRD Forward Air Corporation | -46.48% | -22.48% | -48.70% | -39.34% | -12.56% | 44.48% |
ACT Enact Holdings, Inc. | 14.10% | 25.20% | 15.56% | 25.78% | 24.10% | 9.22% |
Correlation
The correlation between FWRD and ACT is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.24 |
Correlation (All Time) Calculated using the full available price history since Sep 16, 2021 | 0.30 |
The correlation between FWRD and ACT shifts across timeframes, from 0.17 (1 year) to 0.30 (all time), reflecting how their relationship changes across market environments.
Fundamentals
FWRD:
$423.14M
ACT:
$6.25B
FWRD:
-$4.43
ACT:
$4.65
FWRD:
0.11
ACT:
5.25
FWRD:
$2.46B
ACT:
$1.24B
FWRD:
$568.61M
ACT:
$742.95M
FWRD:
$107.29M
ACT:
$685.07M
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Return for Risk
FWRD vs. ACT — Risk / Return Rank
FWRD
ACT
FWRD vs. ACT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Forward Air Corporation (FWRD) and Enact Holdings, Inc. (ACT). 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.
| FWRD | ACT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.59 | ||
| Omega ratioGain probability vs. loss probability | 0.91 | 1.24 | -0.33 |
| Calmar ratioReturn relative to maximum drawdown | -0.72 | 2.65 | -3.36 |
| Martin ratioReturn relative to average drawdown | -1.45 | 6.64 | -8.10 |
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Drawdowns
FWRD vs. ACT - Drawdown Comparison
The maximum FWRD drawdown since its inception was -93.19%, which is greater than ACT's maximum drawdown of -20.25%. Use the drawdown chart below to compare losses from any high point for FWRD and ACT.
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Drawdown Indicators
| FWRD | ACT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -93.19% | -20.25% | -72.94% |
Max Drawdown (1Y)Largest decline over 1 year | -74.25% | -10.96% | -63.29% |
Max Drawdown (3Y)Largest decline over 3 years | -93.02% | -15.33% | -77.69% |
Max Drawdown (5Y)Largest decline over 5 years | -93.19% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -93.19% | — | — |
Current DrawdownCurrent decline from peak | -89.03% | -2.10% | -86.93% |
Average DrawdownAverage peak-to-trough decline | -27.01% | -5.11% | -21.90% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 36.59% | 4.36% | +32.23% |
Volatility
FWRD vs. ACT - Volatility Comparison
Forward Air Corporation (FWRD) has a higher volatility of 19.35% compared to Enact Holdings, Inc. (ACT) at 4.85%. This indicates that FWRD's price experiences larger fluctuations and is considered to be riskier than ACT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FWRD | ACT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 19.35% | 4.85% | +14.50% |
Volatility (6M)Calculated over the trailing 6-month period | 80.42% | 17.27% | +63.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 80.13% | 22.07% | +58.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 63.14% | 24.64% | +38.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 49.55% | 24.64% | +24.91% |
Dividends
FWRD vs. ACT - Dividend Comparison
FWRD has not paid dividends to shareholders, while ACT's dividend yield for the trailing twelve months is around 1.94%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACT Enact Holdings, Inc. | 1.94% | 2.06% | 2.92% | 4.60% | 6.38% | 5.95% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
FWRD Forward Air Corporation | 0.00% | 0.00% | 0.00% | 1.53% | 0.92% | 0.87% | 0.98% | 1.03% | 1.15% | 1.04% | 1.08% | 1.12% |
Financials
FWRD vs. ACT - Financials Comparison
This section allows you to compare key financial metrics between Forward Air Corporation and Enact Holdings, Inc.. You can select fields from income statements, balance sheets, and cash flow statements to easily visualize and compare the financial health of both companies.
Total Revenue: Total amount of money received from sales and other business activities
FWRD vs. ACT - Profitability Comparison
FWRD - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Forward Air Corporation reported a gross profit of 132.98M and revenue of 582.05M. Therefore, the gross margin over that period was 22.9%.
ACT - Gross Margin
Gross margin is calculated as gross profit divided by revenue. For the three months ending on Jul 2026, Enact Holdings, Inc. reported a gross profit of 0.00 and revenue of 312.07M. Therefore, the gross margin over that period was 0.0%.
FWRD - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Forward Air Corporation reported an operating income of 20.44M and revenue of 582.05M, resulting in an operating margin of 3.5%.
ACT - Operating Margin
Operating margin is calculated as operating income divided by revenue. For the three months ending on Jul 2026, Enact Holdings, Inc. reported an operating income of 0.00 and revenue of 312.07M, resulting in an operating margin of 0.0%.
FWRD - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Forward Air Corporation reported a net income of -34.32M and revenue of 582.05M, resulting in a net margin of -5.9%.
ACT - Net Margin
Net margin is calculated as net income divided by revenue. For the three months ending on Jul 2026, Enact Holdings, Inc. reported a net income of 167.77M and revenue of 312.07M, resulting in a net margin of 53.8%.
Frequently Asked Questions
FWRD and ACT have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FWRD has higher volatility (19.35%) compared to ACT (4.85%). In terms of maximum drawdown, FWRD dropped -93.19% vs ACT's -20.25%.
ACT currently has the higher Sharpe Ratio (1.32 vs -0.67), 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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