EDSA vs FLGT: Correlation
How closely do Edesa Biotech, Inc. (EDSA) and Fulgent Genetics, Inc. (FLGT) trade together? Their weekly returns over three years give a correlation of -0.27, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EDSA and FLGT?
Across a 3-year window, the weekly returns of EDSA and FLGT correlate at -0.27, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.47 versus -0.27 over 3 years. Stretching to 5 years gives -0.13, with an annualized covariance of -2389.2 %².
Out of 30 assets tracked against EDSA, FLGT lands near the bottom at #26. Their recent paths diverged sharply: over the last 12 months EDSA outperformed by 99.5 percentage points (+91.7% for EDSA against -7.8% for FLGT). Risk is not evenly split, since EDSA carries 4.1 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.
EDSA vs FLGT: side by side
| EDSA (Edesa Biotech, Inc.) | FLGT (Fulgent Genetics, Inc.) | |
|---|---|---|
| 1-year return | +91.7% | -7.8% |
| 5-year return | -87.4% | -78.2% |
| Volatility (ann.) | 190.4% | 46.5% |
| Beta vs S&P 500 | -0.03 | 0.55 |
| Max drawdown (3Y) | -87.3% | -59.2% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDSA | FLGT |
|---|---|---|
| 2022 | -61.6% | -70.4% |
| 2023 | -69.8% | -2.9% |
| 2024 | -63.2% | -36.1% |
| 2025 | -15.5% | +42.2% |
| 2026 | +223.9% | -24.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and FLGT good diversifiers for each other?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
FAQ
What is the correlation between EDSA and FLGT?
The EDSA/FLGT correlation stands at -0.27 on a 3-year window (1 year: -0.47, 5 years: -0.13), computed from weekly returns as of 2026-08-27.
Is FLGT a good diversifier for EDSA?
By historical standards, yes. A correlation of -0.27 means the two rarely move for the same reasons.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: EDSA correlations · FLGT correlations
