FBRX vs NEXR: Correlation
Measured on weekly returns over the past three years, Forte Biosciences, Inc. (FBRX) and Nexera Technologies Ltd (NEXR) carry a correlation of 0.63, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBRX and NEXR?
On 3 years of weekly data the FBRX/NEXR correlation comes out at 0.63, strong. Lately the two have drifted apart, with the 1-year correlation at 0.08 versus 0.63 over 3 years. The 5-year figure is 0.62, and annualized covariance runs at 64775.5 %².
NEXR is one of the assets that tracks FBRX most closely: it ranks #1 out of the 11 assets we track against FBRX. Their recent paths diverged sharply: over the last 12 months FBRX outperformed by 683.4 percentage points (+583.7% for FBRX against -99.7% for NEXR). One caveat on sizing: NEXR is 4.2 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.
FBRX vs NEXR: side by side
| FBRX (Forte Biosciences, Inc.) | NEXR (Nexera Technologies Ltd) | |
|---|---|---|
| 1-year return | +583.7% | -99.7% |
| 5-year return | -89.5% | n/a |
| Volatility (ann.) | 157.4% | 656.6% |
| Beta vs S&P 500 | 1.45 | 3.62 |
| Max drawdown (3Y) | -81.2% | -100.0% |
| Market cap | $1.6B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FBRX | NEXR |
|---|---|---|
| 2022 | -53.3% | – |
| 2023 | -17.8% | -62.4% |
| 2024 | +10.5% | -15.7% |
| 2025 | +20.1% | -98.1% |
| 2026 | +182.3% | -98.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBRX and NEXR good diversifiers for each other?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FBRX and NEXR?
Using weekly returns as of 2026-08-27: 0.63 over 3 years, with 0.08 over the last year and 0.62 over 5 years.
Is NEXR a good diversifier for FBRX?
Somewhat, no more. With 0.63 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.63 mean?
A reading of 0.63 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/fbrx-vs-nexr.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fbrx-vs-nexr/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FBRX correlations · NEXR correlations
