FLGT vs XWEL: Correlation
How closely do Fulgent Genetics, Inc. (FLGT) and XWELL, Inc. (XWEL) trade together? Their weekly returns over three years give a correlation of -0.40, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLGT and XWEL?
Across a 3-year window, the weekly returns of FLGT and XWEL correlate at -0.40, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.57) than the 3-year average (-0.40). Stretching to 5 years gives -0.22, with an annualized covariance of -3522.0 %².
XWEL is close to the least connected end of FLGT's tracked universe, ranking #11 of 11. Twelve-month performance is nearly a tie, at -7.8% for FLGT and -7.5% for XWEL. One caveat on sizing: XWEL is 4.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
FLGT vs XWEL: side by side
| FLGT (Fulgent Genetics, Inc.) | XWEL (XWELL, Inc.) | |
|---|---|---|
| 1-year return | -7.8% | -7.5% |
| 5-year return | -78.2% | -97.2% |
| Volatility (ann.) | 46.5% | 188.4% |
| Beta vs S&P 500 | 0.55 | 0.41 |
| Max drawdown (3Y) | -59.2% | -92.8% |
| Market cap | $0.5B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLGT | XWEL |
|---|---|---|
| 2022 | -70.4% | -82.2% |
| 2023 | -2.9% | -75.8% |
| 2024 | -36.1% | -13.2% |
| 2025 | +42.2% | -69.5% |
| 2026 | -24.1% | +115.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLGT and XWEL good diversifiers for each other?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
FAQ
What is the correlation between FLGT and XWEL?
The FLGT/XWEL correlation stands at -0.40 on a 3-year window (1 year: -0.57, 5 years: -0.22), computed from weekly returns as of 2026-08-27.
Is XWEL a good diversifier for FLGT?
By historical standards, yes. A correlation of -0.40 means the two rarely move for the same reasons.
What does a correlation of -0.40 mean?
On the −1 to +1 scale, -0.40 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/flgt-vs-xwel.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/flgt-vs-xwel/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: FLGT correlations · XWEL correlations
