CLDX vs FDMT: Correlation
Measured on weekly returns over the past three years, Celldex Therapeutics, Inc. (CLDX) and 4D Molecular Therapeutics, Inc. (FDMT) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CLDX and FDMT?
Across a 3-year window, the weekly returns of CLDX and FDMT correlate at 0.45, moderate. The link has loosened recently: the 1-year correlation (0.34) runs below the 3-year figure (0.45). Stretching to 5 years gives 0.42, with an annualized covariance of 2418.2 %².
Within CLDX's tracked universe of 18 assets, FDMT comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FDMT ahead by 51.8 points (+79.0% versus +130.8%). Risk is not evenly split, since FDMT carries 1.5 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.
CLDX vs FDMT: side by side
| CLDX (Celldex Therapeutics, Inc.) | FDMT (4D Molecular Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +79.0% | +130.8% |
| 5-year return | -21.9% | -50.9% |
| Volatility (ann.) | 59.4% | 89.9% |
| Beta vs S&P 500 | 1.48 | 1.09 |
| Max drawdown (3Y) | -70.8% | -93.0% |
| Market cap | $3.2B | $0.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CLDX | FDMT |
|---|---|---|
| 2022 | +15.3% | +1.2% |
| 2023 | -11.0% | -8.8% |
| 2024 | -36.3% | -72.5% |
| 2025 | +7.5% | +34.6% |
| 2026 | +49.0% | +98.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CLDX and FDMT good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between CLDX and FDMT?
As of 2026-08-27, the correlation of weekly returns between CLDX and FDMT is 0.45 over 3 years, 0.34 over 1 year and 0.42 over 5 years.
Is FDMT a good diversifier for CLDX?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 mean?
A reading of 0.45 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/cldx-vs-fdmt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cldx-vs-fdmt/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CLDX correlations · FDMT correlations
