ALMS vs FANG: Correlation
Measured on weekly returns over the past three years, Alumis Inc. (ALMS) and Diamondback Energy (FANG) carry a correlation of -0.25, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and FANG?
On 3 years of weekly data the ALMS/FANG correlation comes out at -0.25, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.09) runs above the 3-year figure (-0.25). The 5-year figure is n/a, and annualized covariance runs at -1175.7 %².
By 3-year correlation, FANG places #65 of the 92 assets tracked against ALMS. Their recent paths diverged sharply: over the last 12 months ALMS outperformed by 332.1 percentage points (+371.7% for ALMS against +39.6% for FANG). Risk is not evenly split, since ALMS carries 3.8 times the volatility of the other side.
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.
ALMS vs FANG: side by side
| ALMS (Alumis Inc.) | FANG (Diamondback Energy) | |
|---|---|---|
| 1-year return | +371.7% | +39.6% |
| 5-year return | n/a | +224.9% |
| Volatility (ann.) | 130.0% | 34.1% |
| Beta vs S&P 500 | -1.50 | 0.32 |
| Max drawdown (3Y) | -78.9% | -42.1% |
| Market cap | $3.0B | $56.1B |
| P/E (trailing) | – | 38.0 |
| Dividend yield | 0.00% | 2.13% |
| Sector / category | US Listed | Energy |
Year-by-year returns
| Year | ALMS | FANG |
|---|---|---|
| 2022 | – | +35.3% |
| 2023 | – | +19.7% |
| 2024 | – | +10.3% |
| 2025 | +24.2% | -5.6% |
| 2026 | +137.8% | +35.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and FANG good diversifiers for each other?
Yes. With a correlation of -0.25, ALMS and FANG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALMS and FANG?
The ALMS/FANG correlation stands at -0.25 on a 3-year window (1 year: -0.09, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FANG a good diversifier for ALMS?
Yes. With a correlation of -0.25, ALMS and FANG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 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
$ curl https://www.pairbook.io/api/v1/pairs/alms-vs-fang.json
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Related comparisons
Hubs: ALMS correlations · FANG correlations
