BP vs FATE: Correlation
How closely do BP p.l.c. (BP) and Fate Therapeutics, Inc. (FATE) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BP and FATE?
Over the past 3 years, BP and FATE moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.46 versus -0.23 over 3 years. Over 5 years the correlation is -0.15, and the annualized covariance of weekly returns is -677.3 %².
Within BP's tracked universe of 26 assets, FATE comes in at #19 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FATE ahead by 99.2 points (+27.6% versus +126.8%). Risk is not evenly split, since FATE carries 4.2 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.
BP vs FATE: side by side
| BP (BP p.l.c.) | FATE (Fate Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +27.6% | +126.8% |
| 5-year return | +119.9% | -96.5% |
| Volatility (ann.) | 26.6% | 110.8% |
| Beta vs S&P 500 | 0.06 | 2.88 |
| Max drawdown (3Y) | -30.6% | -91.9% |
| Market cap | $109.0B | $0.3B |
| P/E (trailing) | 20.3 | – |
| Dividend yield | 0.79% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BP | FATE |
|---|---|---|
| 2022 | +37.0% | -82.8% |
| 2023 | +6.0% | -62.9% |
| 2024 | -11.8% | -55.9% |
| 2025 | +24.5% | -40.6% |
| 2026 | +26.4% | +159.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BP and FATE good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between BP and FATE?
As of 2026-08-27, the correlation of weekly returns between BP and FATE is -0.23 over 3 years, -0.46 over 1 year and -0.15 over 5 years.
Is FATE a good diversifier for BP?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 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/bp-vs-fate.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/bp-vs-fate/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BP correlations · FATE correlations
