ENGN vs FBLG: Correlation
Measured on weekly returns over the past three years, enGene Therapeutics Inc. (ENGN) and FibroBiologics, Inc. (FBLG) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ENGN and FBLG?
Across a 3-year window, the weekly returns of ENGN and FBLG correlate at 0.35, moderate. The past 12 months show a weaker link (0.16) than the 3-year average (0.35). Stretching to 5 years gives n/a, with an annualized covariance of 6045.4 %².
In ENGN's tracked universe of 35 assets, FBLG sits right near the top at #3. The last year tells two different stories: ENGN led by 31.6 percentage points, -56.0% for ENGN against -87.6% for FBLG.
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.
ENGN vs FBLG: side by side
| ENGN (enGene Therapeutics Inc.) | FBLG (FibroBiologics, Inc.) | |
|---|---|---|
| 1-year return | -56.0% | -87.6% |
| 5-year return | -80.6% | n/a |
| Volatility (ann.) | 156.3% | 150.1% |
| Beta vs S&P 500 | -0.97 | 0.40 |
| Max drawdown (3Y) | -94.9% | -99.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ENGN | FBLG |
|---|---|---|
| 2023 | -10.6% | – |
| 2024 | -28.0% | – |
| 2025 | +35.8% | -88.8% |
| 2026 | -78.8% | -66.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ENGN and FBLG good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ENGN and FBLG?
The ENGN/FBLG correlation stands at 0.35 on a 3-year window (1 year: 0.16, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is FBLG a good diversifier for ENGN?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 mean?
On the −1 to +1 scale, 0.35 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/engn-vs-fblg.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/engn-vs-fblg/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ENGN correlations · FBLG correlations
