FLYE vs PBYI: Correlation
How closely do Fly-E Group, Inc. (FLYE) and Puma Biotechnology Inc (PBYI) trade together? Their weekly returns over three years give a correlation of -0.31, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FLYE and PBYI?
Over the past 3 years, FLYE and PBYI moved with a correlation of -0.31, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.10) runs above the 3-year figure (-0.31). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is -3374.5 %².
Out of 44 assets tracked against FLYE, PBYI lands near the bottom at #43. Correlation aside, the last 12 months split them widely, with PBYI ahead by 170.2 points (-89.0% versus +81.2%). One caveat on sizing: FLYE is 2.2 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.
FLYE vs PBYI: side by side
| FLYE (Fly-E Group, Inc.) | PBYI (Puma Biotechnology Inc) | |
|---|---|---|
| 1-year return | -89.0% | +81.2% |
| 5-year return | n/a | +21.4% |
| Volatility (ann.) | 153.0% | 70.9% |
| Beta vs S&P 500 | 1.73 | 0.91 |
| Max drawdown (3Y) | -99.8% | -69.6% |
| Market cap | – | $0.5B |
| P/E (trailing) | – | 18.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FLYE | PBYI |
|---|---|---|
| 2022 | – | +39.1% |
| 2023 | – | +2.4% |
| 2024 | – | -29.6% |
| 2025 | -92.1% | +95.1% |
| 2026 | -74.4% | +55.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FLYE and PBYI good diversifiers for each other?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FLYE and PBYI?
Using weekly returns as of 2026-08-27: -0.31 over 3 years, with -0.10 over the last year and n/a over 5 years.
Is PBYI a good diversifier for FLYE?
Yes: at -0.31, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.31 mean?
On the −1 to +1 scale, -0.31 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/flye-vs-pbyi.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/flye-vs-pbyi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FLYE correlations · PBYI correlations
