ALM vs FBYD: Correlation
Almonty Industries Inc. (ALM) and Falcon's Beyond Global, Inc. (FBYD) show a moderate relationship: their 3-year correlation of weekly returns is 0.32.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALM and FBYD?
On 3 years of weekly data the ALM/FBYD correlation comes out at 0.32, moderate. Little has changed lately, as the 1-year reading of 0.36 lands near the 3-year figure. The 5-year figure is n/a, and annualized covariance runs at 3993.6 %².
Within ALM's tracked universe of 13 assets, FBYD comes in at #7 by 3-year correlation. The last year tells two different stories: ALM led by 308.4 percentage points, +348.7% for ALM against +40.3% for FBYD. Note the risk asymmetry: FBYD runs 1.5 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ALM vs FBYD: side by side
| ALM (Almonty Industries Inc.) | FBYD (Falcon's Beyond Global, Inc.) | |
|---|---|---|
| 1-year return | +348.7% | +40.3% |
| 5-year return | +1028.4% | n/a |
| Volatility (ann.) | 89.8% | 137.7% |
| Beta vs S&P 500 | 1.32 | 0.37 |
| Max drawdown (3Y) | -57.9% | -81.2% |
| Market cap | $5.4B | $0.5B |
| P/E (trailing) | 82.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALM | FBYD |
|---|---|---|
| 2022 | -27.7% | – |
| 2023 | -19.7% | – |
| 2024 | +53.2% | -22.0% |
| 2025 | +526.5% | +87.8% |
| 2026 | +114.4% | -33.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALM and FBYD good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALM and FBYD?
The ALM/FBYD correlation stands at 0.32 on a 3-year window (1 year: 0.36, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FBYD a good diversifier for ALM?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 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.
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Related comparisons
Hubs: ALM correlations · FBYD correlations
