FDMT vs KNSA: Correlation
How closely do 4D Molecular Therapeutics, Inc. (FDMT) and Kiniksa Pharmaceuticals International, plc - Class A (KNSA) trade together? Their weekly returns over three years give a correlation of 0.39, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDMT and KNSA?
Over the past 3 years, FDMT and KNSA moved with a correlation of 0.39, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.11 versus 0.39 over 3 years. Over 5 years the correlation is 0.30, and the annualized covariance of weekly returns is 1616.9 %².
Within FDMT's tracked universe of 15 assets, KNSA comes in at #9 by 3-year correlation. On 12-month performance KNSA holds a 6.0-point edge, +130.8% against +136.8%. Risk is not evenly split, since FDMT carries 2.0 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.
FDMT vs KNSA: side by side
| FDMT (4D Molecular Therapeutics, Inc.) | KNSA (Kiniksa Pharmaceuticals International, plc - Class A) | |
|---|---|---|
| 1-year return | +130.8% | +136.8% |
| 5-year return | -50.9% | +550.9% |
| Volatility (ann.) | 89.9% | 46.0% |
| Beta vs S&P 500 | 1.09 | 0.55 |
| Max drawdown (3Y) | -93.0% | -34.1% |
| Market cap | $0.8B | $6.2B |
| P/E (trailing) | – | 79.8 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FDMT | KNSA |
|---|---|---|
| 2022 | +1.2% | +27.3% |
| 2023 | -8.8% | +17.1% |
| 2024 | -72.5% | +12.8% |
| 2025 | +34.6% | +108.5% |
| 2026 | +98.8% | +93.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDMT and KNSA good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FDMT and KNSA?
The FDMT/KNSA correlation stands at 0.39 on a 3-year window (1 year: 0.11, 5 years: 0.30), computed from weekly returns as of 2026-08-27.
Is KNSA a good diversifier for FDMT?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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: FDMT correlations · KNSA correlations
