FBRX vs XCUR: Correlation
How closely do Forte Biosciences, Inc. (FBRX) and Exicure, Inc. (XCUR) trade together? Their weekly returns over three years give a correlation of 0.59, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBRX and XCUR?
Over the past 3 years, FBRX and XCUR moved with a correlation of 0.59, which is moderate. The link has loosened recently: the 1-year correlation (0.03) runs below the 3-year figure (0.59). Over 5 years the correlation is 0.56, and the annualized covariance of weekly returns is 31686.5 %².
In FBRX's tracked universe of 11 assets, XCUR sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months FBRX outperformed by 659.0 percentage points (+583.7% for FBRX against -75.3% for XCUR). Risk is not evenly split, since XCUR carries 2.2 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.
FBRX vs XCUR: side by side
| FBRX (Forte Biosciences, Inc.) | XCUR (Exicure, Inc.) | |
|---|---|---|
| 1-year return | +583.7% | -75.3% |
| 5-year return | -89.5% | -99.3% |
| Volatility (ann.) | 157.4% | 341.3% |
| Beta vs S&P 500 | 1.45 | 0.92 |
| Max drawdown (3Y) | -81.2% | -96.4% |
| 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 | XCUR |
|---|---|---|
| 2022 | -53.3% | -81.0% |
| 2023 | -17.8% | -49.6% |
| 2024 | +10.5% | +371.4% |
| 2025 | +20.1% | -60.4% |
| 2026 | +182.3% | -74.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBRX and XCUR good diversifiers for each other?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between FBRX and XCUR?
Using weekly returns as of 2026-08-27: 0.59 over 3 years, with 0.03 over the last year and 0.56 over 5 years.
Is XCUR a good diversifier for FBRX?
To a limited degree. At 0.59 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.59 mean?
On the −1 to +1 scale, 0.59 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.
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Hubs: FBRX correlations · XCUR correlations
