FLNA vs OPTT: Correlation
Filana Therapeutics, Inc. (FLNA) and Ocean Power Technologies, Inc. (OPTT) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLNA and OPTT?
On 3 years of weekly data the FLNA/OPTT correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.33) than the 3-year average (-0.30). The 5-year figure is -0.21, and annualized covariance runs at -6072.2 %².
Out of 16 assets tracked against FLNA, OPTT lands near the bottom at #12. On 12-month performance FLNA holds a 6.9-point edge, -60.0% against -66.9%. Note the risk asymmetry: OPTT runs 1.5 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.
FLNA vs OPTT: side by side
| FLNA (Filana Therapeutics, Inc.) | OPTT (Ocean Power Technologies, Inc.) | |
|---|---|---|
| 1-year return | -60.0% | -66.9% |
| 5-year return | -98.3% | -91.7% |
| Volatility (ann.) | 115.4% | 176.9% |
| Beta vs S&P 500 | 0.88 | 2.48 |
| Max drawdown (3Y) | -97.5% | -91.3% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLNA | OPTT |
|---|---|---|
| 2022 | -32.4% | -69.6% |
| 2023 | -23.8% | -28.9% |
| 2024 | -89.5% | +218.8% |
| 2025 | -16.1% | -70.6% |
| 2026 | -53.4% | -40.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLNA and OPTT good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FLNA and OPTT?
As of 2026-08-27, the correlation of weekly returns between FLNA and OPTT is -0.30 over 3 years, 0.33 over 1 year and -0.21 over 5 years.
Is OPTT a good diversifier for FLNA?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/flna-vs-optt.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/flna-vs-optt/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FLNA correlations · OPTT correlations
