FBYD vs VTRS: Correlation
Measured on weekly returns over the past three years, Falcon's Beyond Global, Inc. (FBYD) and Viatris (VTRS) carry a correlation of -0.16, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FBYD and VTRS?
Across a 3-year window, the weekly returns of FBYD and VTRS correlate at -0.16, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.28 versus -0.16 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of -742.0 %².
Among the 13 assets we track against FBYD, VTRS ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months VTRS outperformed by 27.5 percentage points (+40.3% for FBYD against +67.8% for VTRS). Note the risk asymmetry: FBYD runs 4.2 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
FBYD vs VTRS: side by side
| FBYD (Falcon's Beyond Global, Inc.) | VTRS (Viatris) | |
|---|---|---|
| 1-year return | +40.3% | +67.8% |
| 5-year return | n/a | +44.6% |
| Volatility (ann.) | 137.7% | 32.8% |
| Beta vs S&P 500 | 0.37 | 0.79 |
| Max drawdown (3Y) | -81.2% | -45.0% |
| Market cap | $0.5B | $19.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 2.85% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | FBYD | VTRS |
|---|---|---|
| 2022 | – | -14.3% |
| 2023 | – | +2.1% |
| 2024 | -22.0% | +19.7% |
| 2025 | +87.8% | +5.1% |
| 2026 | -33.4% | +38.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FBYD and VTRS good diversifiers for each other?
Yes. With a correlation of -0.16, FBYD and VTRS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FBYD and VTRS?
Using weekly returns as of 2026-08-27: -0.16 over 3 years, with -0.28 over the last year and n/a over 5 years.
Is VTRS a good diversifier for FBYD?
Yes. With a correlation of -0.16, FBYD and VTRS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.16 mean?
On the −1 to +1 scale, -0.16 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
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Related comparisons
Hubs: FBYD correlations · VTRS correlations
