FDMT vs REPL: Correlation
How closely do 4D Molecular Therapeutics, Inc. (FDMT) and Replimune Group, Inc. (REPL) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FDMT and REPL?
On 3 years of weekly data the FDMT/REPL correlation comes out at 0.34, moderate. Little has changed lately, as the 1-year reading of 0.32 lands near the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 4656.3 %².
Among the 15 assets we track against FDMT, REPL ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months REPL outperformed by 51.3 percentage points (+130.8% for FDMT against +182.1% for REPL). Note the risk asymmetry: REPL runs 1.7 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.
FDMT vs REPL: side by side
| FDMT (4D Molecular Therapeutics, Inc.) | REPL (Replimune Group, Inc.) | |
|---|---|---|
| 1-year return | +130.8% | +182.1% |
| 5-year return | -50.9% | -50.4% |
| Volatility (ann.) | 89.9% | 153.7% |
| Beta vs S&P 500 | 1.09 | 0.48 |
| Max drawdown (3Y) | -93.0% | -92.0% |
| Market cap | $0.8B | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FDMT | REPL |
|---|---|---|
| 2022 | +1.2% | +0.4% |
| 2023 | -8.8% | -69.0% |
| 2024 | -72.5% | +43.7% |
| 2025 | +34.6% | -19.7% |
| 2026 | +98.8% | +60.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FDMT and REPL good diversifiers for each other?
Reasonably. At 0.34, FDMT and REPL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between FDMT and REPL?
Using weekly returns as of 2026-08-27: 0.34 over 3 years, with 0.32 over the last year and 0.29 over 5 years.
Is REPL a good diversifier for FDMT?
Reasonably. At 0.34, FDMT and REPL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.34 mean?
On the −1 to +1 scale, 0.34 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
$ curl https://www.pairbook.io/api/v1/pairs/fdmt-vs-repl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fdmt-vs-repl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FDMT correlations · REPL correlations
