FBIO vs RJET: Correlation
How closely do Fortress Biotech, Inc. (FBIO) and Republic Airways Holdings Inc. (RJET) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBIO and RJET?
Over the past 3 years, FBIO and RJET moved with a correlation of 0.39, which is moderate. The past 12 months show a weaker link (0.11) than the 3-year average (0.39). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 3309.9 %².
Within FBIO's tracked universe of 12 assets, RJET comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FBIO ahead by 19.2 points (+19.7% versus +0.5%).
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 RJET: side by side
| FBIO (Fortress Biotech, Inc.) | RJET (Republic Airways Holdings Inc.) | |
|---|---|---|
| 1-year return | +19.7% | +0.5% |
| 5-year return | -94.3% | -84.5% |
| Volatility (ann.) | 94.3% | 89.1% |
| Beta vs S&P 500 | 1.35 | 1.76 |
| Max drawdown (3Y) | -78.2% | -70.7% |
| Market cap | $0.1B | $0.9B |
| P/E (trailing) | 1.0 | 12.2 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBIO | RJET |
|---|---|---|
| 2022 | -73.6% | -72.7% |
| 2023 | -69.6% | -34.0% |
| 2024 | -32.6% | +14.9% |
| 2025 | +80.3% | +5.6% |
| 2026 | -23.5% | +0.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBIO and RJET good diversifiers for each other?
Reasonably. At 0.39, FBIO and RJET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FBIO and RJET?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.11 over the last year and 0.41 over 5 years.
Is RJET a good diversifier for FBIO?
Reasonably. At 0.39, FBIO and RJET keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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-rjet.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbio-vs-rjet/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FBIO correlations · RJET correlations
