FBIO vs MLTX: Correlation
Fortress Biotech, Inc. (FBIO) and MoonLake Immunotherapeutics - Class A (MLTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBIO and MLTX?
Across a 3-year window, the weekly returns of FBIO and MLTX correlate at 0.37, moderate. The relationship has been stable: the 1-year correlation (0.37) sits close to the 3-year figure. Stretching to 5 years gives 0.19, with an annualized covariance of 2796.2 %².
Within FBIO's tracked universe of 12 assets, MLTX comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months FBIO outperformed by 91.7 percentage points (+19.7% for FBIO against -72.0% for MLTX).
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.
FBIO vs MLTX: side by side
| FBIO (Fortress Biotech, Inc.) | MLTX (MoonLake Immunotherapeutics - Class A) | |
|---|---|---|
| 1-year return | +19.7% | -72.0% |
| 5-year return | -94.3% | +57.2% |
| Volatility (ann.) | 94.3% | 80.7% |
| Beta vs S&P 500 | 1.35 | 0.83 |
| Max drawdown (3Y) | -78.2% | -90.2% |
| Market cap | $0.1B | $1.3B |
| P/E (trailing) | 1.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBIO | MLTX |
|---|---|---|
| 2022 | -73.6% | +6.2% |
| 2023 | -69.6% | +475.1% |
| 2024 | -32.6% | -10.3% |
| 2025 | +80.3% | -75.7% |
| 2026 | -23.5% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIO and MLTX good diversifiers for each other?
Reasonably. At 0.37, FBIO and MLTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FBIO and MLTX?
As of 2026-08-27, the correlation of weekly returns between FBIO and MLTX is 0.37 over 3 years, 0.37 over 1 year and 0.19 over 5 years.
Is MLTX a good diversifier for FBIO?
Reasonably. At 0.37, FBIO and MLTX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 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/fbio-vs-mltx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fbio-vs-mltx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBIO correlations · MLTX correlations
