BIVI vs FRMM: Correlation
How closely do BioVie Inc. (BIVI) and Forum Markets, Incorporated (FRMM) 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 BIVI and FRMM?
On 3 years of weekly data the BIVI/FRMM correlation comes out at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.24) runs below the 3-year figure (0.40). The 5-year figure is 0.32, and annualized covariance runs at 12725.1 %².
FRMM is one of the assets that tracks BIVI most closely: it ranks #3 out of the 12 assets we track against BIVI. Their recent paths diverged sharply: over the last 12 months BIVI outperformed by 116.2 percentage points (+35.2% for BIVI against -81.0% for FRMM). One caveat on sizing: FRMM is 1.6 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.
BIVI vs FRMM: side by side
| BIVI (BioVie Inc.) | FRMM (Forum Markets, Incorporated) | |
|---|---|---|
| 1-year return | +35.2% | -81.0% |
| 5-year return | -99.7% | -100.0% |
| Volatility (ann.) | 139.8% | 228.0% |
| Beta vs S&P 500 | 1.45 | 2.29 |
| Max drawdown (3Y) | -99.8% | -98.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BIVI | FRMM |
|---|---|---|
| 2022 | +72.7% | -95.7% |
| 2023 | -83.8% | -93.7% |
| 2024 | -84.1% | -55.2% |
| 2025 | -94.2% | -73.1% |
| 2026 | +88.8% | +15.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BIVI and FRMM good diversifiers for each other?
Reasonably. At 0.40, BIVI and FRMM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between BIVI and FRMM?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.24 over the last year and 0.32 over 5 years.
Is FRMM a good diversifier for BIVI?
Reasonably. At 0.40, BIVI and FRMM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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/bivi-vs-frmm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bivi-vs-frmm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BIVI correlations · FRMM correlations
