CODX vs FABC: Correlation
Co-Diagnostics, Inc. (CODX) and Fabric.AI, Inc. (FABC) show a moderate relationship: their 3-year correlation of weekly returns is 0.49.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CODX and FABC?
On 3 years of weekly data the CODX/FABC correlation comes out at 0.49, moderate. The past 12 months show a tighter link (0.61) than the 3-year average (0.49). The 5-year figure is 0.43, and annualized covariance runs at 9076.5 %².
Within CODX's tracked universe of 24 assets, FABC comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FABC outperformed by 34.4 percentage points (-87.1% for CODX against -52.7% for FABC). Risk is not evenly split, since CODX carries 2.2 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.
CODX vs FABC: side by side
| CODX (Co-Diagnostics, Inc.) | FABC (Fabric.AI, Inc.) | |
|---|---|---|
| 1-year return | -87.1% | -52.7% |
| 5-year return | -99.6% | -99.5% |
| Volatility (ann.) | 203.9% | 91.5% |
| Beta vs S&P 500 | 2.30 | 1.87 |
| Max drawdown (3Y) | -97.9% | -97.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CODX | FABC |
|---|---|---|
| 2022 | -71.8% | -76.4% |
| 2023 | -47.2% | -42.1% |
| 2024 | -43.6% | -61.4% |
| 2025 | -77.5% | -77.5% |
| 2026 | -75.1% | +13.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CODX and FABC good diversifiers for each other?
Reasonably. At 0.49, CODX and FABC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between CODX and FABC?
Using weekly returns as of 2026-08-27: 0.49 over 3 years, with 0.61 over the last year and 0.43 over 5 years.
Is FABC a good diversifier for CODX?
Reasonably. At 0.49, CODX and FABC keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.49 mean?
A reading of 0.49 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/codx-vs-fabc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/codx-vs-fabc/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: CODX correlations · FABC correlations
