EQ vs FLYE: Correlation
How closely do Equillium, Inc. (EQ) and Fly-E Group, Inc. (FLYE) trade together? Their weekly returns over three years give a correlation of -0.21, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQ and FLYE?
Across a 3-year window, the weekly returns of EQ and FLYE correlate at -0.21, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.07 versus -0.21 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -4778.4 %².
Among the 13 assets we track against EQ, FLYE sits near the bottom by co-movement, at rank #11. Their recent paths diverged sharply: over the last 12 months EQ outperformed by 117.3 percentage points (+28.3% for EQ against -89.0% for FLYE).
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.
EQ vs FLYE: side by side
| EQ (Equillium, Inc.) | FLYE (Fly-E Group, Inc.) | |
|---|---|---|
| 1-year return | +28.3% | -89.0% |
| 5-year return | -60.0% | n/a |
| Volatility (ann.) | 147.8% | 153.0% |
| Beta vs S&P 500 | 0.03 | 1.73 |
| Max drawdown (3Y) | -90.3% | -99.8% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQ | FLYE |
|---|---|---|
| 2022 | -71.9% | – |
| 2023 | -32.1% | – |
| 2024 | +4.2% | – |
| 2025 | +106.7% | -92.1% |
| 2026 | +58.1% | -74.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQ and FLYE good diversifiers for each other?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EQ and FLYE?
As of 2026-08-27, the correlation of weekly returns between EQ and FLYE is -0.21 over 3 years, -0.07 over 1 year and n/a over 5 years.
Is FLYE a good diversifier for EQ?
Yes: at -0.21, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.21 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/eq-vs-flye.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eq-vs-flye/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: EQ correlations · FLYE correlations
