ALMS vs FXI: Correlation
Alumis Inc. (ALMS) and iShares China Large-Cap ETF (FXI) show a negative relationship: their 3-year correlation of weekly returns is -0.17.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALMS and FXI?
Over the past 3 years, ALMS and FXI moved with a correlation of -0.17, which is negative, meaning they tend to move in opposite directions. Little has changed lately, as the 1-year reading of -0.09 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -560.2 %².
Among the 92 assets we track against ALMS, FXI ranks #27 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ALMS outperformed by 377.8 percentage points (+371.7% for ALMS against -6.1% for FXI). Risk is not evenly split, since ALMS carries 5.1 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 FXI: side by side
| ALMS (Alumis Inc.) | FXI (iShares China Large-Cap ETF) | |
|---|---|---|
| 1-year return | +371.7% | -6.1% |
| 5-year return | n/a | -1.4% |
| Volatility (ann.) | 130.0% | 25.3% |
| Beta vs S&P 500 | -1.50 | 0.68 |
| Max drawdown (3Y) | -78.9% | -23.2% |
| Market cap | $3.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.87% |
| Expense ratio | – | 0.73% |
| Assets under management | – | $4.3B |
| Sector / category | US Listed | ETF · International |
FXI, iShares's Greater China Region fund, carries $4.3B under management, 50 holdings, a 0.73% expense ratio, a 1.87% trailing dividend yield.
Year-by-year returns
| Year | ALMS | FXI |
|---|---|---|
| 2022 | – | -20.7% |
| 2023 | – | -12.4% |
| 2024 | – | +29.0% |
| 2025 | +24.2% | +28.9% |
| 2026 | +137.8% | -7.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALMS and FXI good diversifiers for each other?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
FAQ
What is the correlation between ALMS and FXI?
The ALMS/FXI correlation stands at -0.17 on a 3-year window (1 year: -0.09, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FXI a good diversifier for ALMS?
By historical standards, yes. A correlation of -0.17 means the two rarely move for the same reasons.
What does a correlation of -0.17 mean?
On the −1 to +1 scale, -0.17 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-fxi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/alms-vs-fxi/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ALMS correlations · FXI correlations
