FEED vs GUTS: Correlation
Measured on weekly returns over the past three years, ENvue Medical, Inc. (FEED) and Fractyl Health, Inc. (GUTS) carry a correlation of -0.28, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FEED and GUTS?
Over the past 3 years, FEED and GUTS moved with a correlation of -0.28, which is negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.54) than the 3-year average (-0.28). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -6681.1 %².
GUTS is close to the least connected end of FEED's tracked universe, ranking #16 of 17. Their recent paths diverged sharply: over the last 12 months GUTS outperformed by 68.6 percentage points (-93.7% for FEED against -25.1% for GUTS). Note the risk asymmetry: FEED runs 1.9 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.
FEED vs GUTS: side by side
| FEED (ENvue Medical, Inc.) | GUTS (Fractyl Health, Inc.) | |
|---|---|---|
| 1-year return | -93.7% | -25.1% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 207.5% | 108.3% |
| Beta vs S&P 500 | 2.43 | 1.43 |
| Max drawdown (3Y) | -99.9% | -96.9% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FEED | GUTS |
|---|---|---|
| 2022 | -75.8% | – |
| 2023 | -77.2% | – |
| 2024 | -48.7% | – |
| 2025 | -96.4% | +6.8% |
| 2026 | -84.1% | -66.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FEED and GUTS good diversifiers for each other?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FEED and GUTS?
Using weekly returns as of 2026-08-27: -0.28 over 3 years, with -0.54 over the last year and n/a over 5 years.
Is GUTS a good diversifier for FEED?
Yes: at -0.28, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.28 mean?
On the −1 to +1 scale, -0.28 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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Related comparisons
Hubs: FEED correlations · GUTS correlations
