FBLG vs TANH: Correlation
FibroBiologics, Inc. (FBLG) and Tantech Holdings Ltd. - Class A (TANH) show a moderate relationship: their 3-year correlation of weekly returns is 0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBLG and TANH?
Over the past 3 years, FBLG and TANH moved with a correlation of 0.30, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.30 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 4106.2 %².
By 3-year correlation, TANH places #7 of the 15 assets tracked against FBLG. On 12-month performance TANH holds a 6.6-point edge, -87.6% against -81.0%.
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 TANH: side by side
| FBLG (FibroBiologics, Inc.) | TANH (Tantech Holdings Ltd. - Class A) | |
|---|---|---|
| 1-year return | -87.6% | -81.0% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 150.1% | 104.0% |
| Beta vs S&P 500 | 0.40 | 1.09 |
| Max drawdown (3Y) | -99.9% | -99.7% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBLG | TANH |
|---|---|---|
| 2022 | – | -98.1% |
| 2023 | – | -44.7% |
| 2024 | – | -82.3% |
| 2025 | -88.8% | -88.2% |
| 2026 | -66.9% | -62.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBLG and TANH good diversifiers for each other?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FBLG and TANH?
The FBLG/TANH correlation stands at 0.30 on a 3-year window (1 year: 0.15, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is TANH a good diversifier for FBLG?
A fair diversifier. At 0.30, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.30 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.
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Related comparisons
Hubs: FBLG correlations · TANH correlations
