FBIO vs NXP: Correlation
Measured on weekly returns over the past three years, Fortress Biotech, Inc. (FBIO) and Nuveen Select Tax Free Income Portfolio (NXP) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBIO and NXP?
Across a 3-year window, the weekly returns of FBIO and NXP correlate at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.08 versus 0.40 over 3 years. Stretching to 5 years gives 0.27, with an annualized covariance of 347.2 %².
By 3-year correlation, NXP places #5 of the 12 assets tracked against FBIO. The trailing year gives FBIO the advantage: +19.7% versus +6.3%, a 13.4-point spread. One caveat on sizing: FBIO is 10.4 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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 NXP: side by side
| FBIO (Fortress Biotech, Inc.) | NXP (Nuveen Select Tax Free Income Portfolio) | |
|---|---|---|
| 1-year return | +19.7% | +6.3% |
| 5-year return | -94.3% | +0.3% |
| Volatility (ann.) | 94.3% | 9.1% |
| Beta vs S&P 500 | 1.35 | 0.11 |
| Max drawdown (3Y) | -78.2% | -9.1% |
| Market cap | $0.1B | – |
| P/E (trailing) | 1.0 | 24.9 |
| Dividend yield | 0.00% | 4.45% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBIO | NXP |
|---|---|---|
| 2022 | -73.6% | -9.5% |
| 2023 | -69.6% | +10.7% |
| 2024 | -32.6% | +6.9% |
| 2025 | +80.3% | -2.7% |
| 2026 | -23.5% | +3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIO and NXP good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FBIO and NXP?
The FBIO/NXP correlation stands at 0.40 on a 3-year window (1 year: 0.08, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is NXP a good diversifier for FBIO?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
On the −1 to +1 scale, 0.40 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/fbio-vs-nxp.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/fbio-vs-nxp/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBIO correlations · NXP correlations
