ABUS vs FDMT: Correlation
How closely do Arbutus Biopharma Corporation (ABUS) and 4D Molecular Therapeutics, Inc. (FDMT) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ABUS and FDMT?
Across a 3-year window, the weekly returns of ABUS and FDMT correlate at 0.41, moderate. The relationship has been stable: the 1-year correlation (0.49) sits close to the 3-year figure. Stretching to 5 years gives 0.39, with an annualized covariance of 1536.1 %².
Few assets follow ABUS as closely as FDMT, which ranks #3 of 11 tracked partners. The last year tells two different stories: FDMT led by 89.2 percentage points, +41.6% for ABUS against +130.8% for FDMT. One caveat on sizing: FDMT is 2.2 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
ABUS vs FDMT: side by side
| ABUS (Arbutus Biopharma Corporation) | FDMT (4D Molecular Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +41.6% | +130.8% |
| 5-year return | +53.0% | -50.9% |
| Volatility (ann.) | 41.5% | 89.9% |
| Beta vs S&P 500 | 0.46 | 1.09 |
| Max drawdown (3Y) | -36.8% | -93.0% |
| Market cap | $1.0B | $0.8B |
| P/E (trailing) | 6.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ABUS | FDMT |
|---|---|---|
| 2022 | -40.1% | +1.2% |
| 2023 | +7.3% | -8.8% |
| 2024 | +30.8% | -72.5% |
| 2025 | +47.1% | +34.6% |
| 2026 | +7.5% | +98.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ABUS and FDMT good diversifiers for each other?
Reasonably. At 0.41, ABUS and FDMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ABUS and FDMT?
As of 2026-08-27, the correlation of weekly returns between ABUS and FDMT is 0.41 over 3 years, 0.49 over 1 year and 0.39 over 5 years.
Is FDMT a good diversifier for ABUS?
Reasonably. At 0.41, ABUS and FDMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 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
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Related comparisons
Hubs: ABUS correlations · FDMT correlations
