ALMS vs FWONK: Correlation
Alumis Inc. (ALMS) and Liberty Media Corporation - Series C Liberty Formula One (FWONK) show a negative relationship: their 3-year correlation of weekly returns is -0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and FWONK?
Over the past 3 years, ALMS and FWONK moved with a correlation of -0.27, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.35) sits close to the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -890.8 %².
By 3-year correlation, FWONK places #73 of the 92 assets tracked against ALMS. Their recent paths diverged sharply: over the last 12 months ALMS outperformed by 369.4 percentage points (+371.7% for ALMS against +2.3% for FWONK). One caveat on sizing: ALMS is 5.2 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.
ALMS vs FWONK: side by side
| ALMS (Alumis Inc.) | FWONK (Liberty Media Corporation - Series C Liberty Formula One) | |
|---|---|---|
| 1-year return | +371.7% | +2.3% |
| 5-year return | n/a | +110.9% |
| Volatility (ann.) | 130.0% | 25.2% |
| Beta vs S&P 500 | -1.50 | 0.54 |
| Max drawdown (3Y) | -78.9% | -24.8% |
| Market cap | $3.0B | $25.6B |
| P/E (trailing) | – | 127.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALMS | FWONK |
|---|---|---|
| 2022 | – | -5.5% |
| 2023 | – | +9.2% |
| 2024 | – | +46.8% |
| 2025 | +24.2% | +6.3% |
| 2026 | +137.8% | +3.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and FWONK good diversifiers for each other?
Yes. With a correlation of -0.27, ALMS and FWONK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between ALMS and FWONK?
Using weekly returns as of 2026-08-27: -0.27 over 3 years, with -0.35 over the last year and n/a over 5 years.
Is FWONK a good diversifier for ALMS?
Yes. With a correlation of -0.27, ALMS and FWONK have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.27 mean?
On the −1 to +1 scale, -0.27 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/alms-vs-fwonk.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alms-vs-fwonk/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALMS correlations · FWONK correlations
