FBLG vs MGM: Correlation
How closely do FibroBiologics, Inc. (FBLG) and MGM Resorts (MGM) trade together? Their weekly returns over three years give a correlation of -0.16, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBLG and MGM?
Across a 3-year window, the weekly returns of FBLG and MGM correlate at -0.16, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.08 over 1 year against -0.16 over 3. Stretching to 5 years gives n/a, with an annualized covariance of -864.0 %².
MGM is close to the least connected end of FBLG's tracked universe, ranking #11 of 15. Their recent paths diverged sharply: over the last 12 months MGM outperformed by 95.6 percentage points (-87.6% for FBLG against +8.0% for MGM). Risk is not evenly split, since FBLG carries 4.3 times the volatility of the other side.
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.
FBLG vs MGM: side by side
| FBLG (FibroBiologics, Inc.) | MGM (MGM Resorts) | |
|---|---|---|
| 1-year return | -87.6% | +8.0% |
| 5-year return | n/a | +0.8% |
| Volatility (ann.) | 150.1% | 35.2% |
| Beta vs S&P 500 | 0.40 | 1.18 |
| Max drawdown (3Y) | -99.9% | -46.0% |
| Market cap | – | $11.0B |
| P/E (trailing) | – | 26.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Discretionary |
Year-by-year returns
| Year | FBLG | MGM |
|---|---|---|
| 2022 | – | -25.3% |
| 2023 | – | +33.3% |
| 2024 | – | -22.4% |
| 2025 | -88.8% | +5.3% |
| 2026 | -66.9% | +17.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBLG and MGM good diversifiers for each other?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FBLG and MGM?
The FBLG/MGM correlation stands at -0.16 on a 3-year window (1 year: -0.08, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is MGM a good diversifier for FBLG?
Yes: at -0.16, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.16 mean?
A reading of -0.16 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/fblg-vs-mgm.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fblg-vs-mgm/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FBLG correlations · MGM correlations
