ANNX vs FDMT: Correlation
How closely do Annexon, Inc. (ANNX) and 4D Molecular Therapeutics, Inc. (FDMT) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANNX and FDMT?
Across a 3-year window, the weekly returns of ANNX and FDMT correlate at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.44 over 3 years. Stretching to 5 years gives 0.34, with an annualized covariance of 3686.3 %².
Within ANNX's tracked universe of 13 assets, FDMT comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ANNX ahead by 18.0 points (+148.8% versus +130.8%).
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.
ANNX vs FDMT: side by side
| ANNX (Annexon, Inc.) | FDMT (4D Molecular Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +148.8% | +130.8% |
| 5-year return | -68.9% | -50.9% |
| Volatility (ann.) | 92.8% | 89.9% |
| Beta vs S&P 500 | 1.72 | 1.09 |
| Max drawdown (3Y) | -82.3% | -93.0% |
| Market cap | $1.0B | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANNX | FDMT |
|---|---|---|
| 2022 | -55.0% | +1.2% |
| 2023 | -12.2% | -8.8% |
| 2024 | +13.0% | -72.5% |
| 2025 | -2.1% | +34.6% |
| 2026 | +4.6% | +98.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANNX and FDMT good diversifiers for each other?
Reasonably. At 0.44, ANNX and FDMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ANNX and FDMT?
The ANNX/FDMT correlation stands at 0.44 on a 3-year window (1 year: 0.15, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is FDMT a good diversifier for ANNX?
Reasonably. At 0.44, ANNX and FDMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/annx-vs-fdmt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/annx-vs-fdmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: ANNX correlations · FDMT correlations
