FHTX vs HKIT: Correlation
Measured on weekly returns over the past three years, Foghorn Therapeutics Inc. (FHTX) and Hitek Global Inc. - Class A (HKIT) carry a correlation of 0.54, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FHTX and HKIT?
On 3 years of weekly data the FHTX/HKIT correlation comes out at 0.54, moderate. The link has loosened recently: the 1-year correlation (0.21) runs below the 3-year figure (0.54). The 5-year figure is n/a, and annualized covariance runs at 13132.3 %².
Few assets follow FHTX as closely as HKIT, which ranks #2 of 12 tracked partners. The last year tells two different stories: FHTX led by 114.9 percentage points, +15.0% for FHTX against -99.9% for HKIT. Note the risk asymmetry: HKIT runs 2.2 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.
FHTX vs HKIT: side by side
| FHTX (Foghorn Therapeutics Inc.) | HKIT (Hitek Global Inc. - Class A) | |
|---|---|---|
| 1-year return | +15.0% | -99.9% |
| 5-year return | -49.1% | n/a |
| Volatility (ann.) | 103.7% | 233.1% |
| Beta vs S&P 500 | 2.17 | 1.70 |
| Max drawdown (3Y) | -68.5% | -100.0% |
| Market cap | $0.4B | – |
| P/E (trailing) | – | 0.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FHTX | HKIT |
|---|---|---|
| 2022 | -72.1% | – |
| 2023 | +1.1% | – |
| 2024 | -26.8% | +36.2% |
| 2025 | +14.4% | +55.9% |
| 2026 | +15.2% | -100.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FHTX and HKIT good diversifiers for each other?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between FHTX and HKIT?
Using weekly returns as of 2026-08-27: 0.54 over 3 years, with 0.21 over the last year and n/a over 5 years.
Is HKIT a good diversifier for FHTX?
Somewhat, no more. With 0.54 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.54 mean?
A reading of 0.54 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fhtx-vs-hkit.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fhtx-vs-hkit/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FHTX correlations · HKIT correlations
