AVIR vs FATE: Correlation
How closely do Atea Pharmaceuticals, Inc. (AVIR) and Fate Therapeutics, Inc. (FATE) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVIR and FATE?
Over the past 3 years, AVIR and FATE moved with a correlation of 0.40, which is moderate. Little has changed lately, as the 1-year reading of 0.31 lands near the 3-year figure. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 2121.1 %².
Within AVIR's tracked universe of 13 assets, FATE comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FATE ahead by 75.4 points (+51.4% versus +126.8%). Risk is not evenly split, since FATE carries 2.3 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.
AVIR vs FATE: side by side
| AVIR (Atea Pharmaceuticals, Inc.) | FATE (Fate Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +51.4% | +126.8% |
| 5-year return | -82.1% | -96.5% |
| Volatility (ann.) | 48.3% | 110.8% |
| Beta vs S&P 500 | 0.73 | 2.88 |
| Max drawdown (3Y) | -44.1% | -91.9% |
| Market cap | $0.4B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVIR | FATE |
|---|---|---|
| 2022 | -46.2% | -82.8% |
| 2023 | -36.6% | -62.9% |
| 2024 | +9.8% | -55.9% |
| 2025 | +6.6% | -40.6% |
| 2026 | +52.7% | +159.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVIR and FATE good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between AVIR and FATE?
The AVIR/FATE correlation stands at 0.40 on a 3-year window (1 year: 0.31, 5 years: 0.29), computed from weekly returns as of 2026-08-27.
Is FATE a good diversifier for AVIR?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 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/avir-vs-fate.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/avir-vs-fate/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AVIR correlations · FATE correlations
