FMC vs IVVD: Correlation
Measured on weekly returns over the past three years, FMC Corporation (FMC) and Invivyd, Inc. (IVVD) carry a correlation of -0.29, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FMC and IVVD?
Over the past 3 years, FMC and IVVD moved with a correlation of -0.29, which is negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.18) than the 3-year average (-0.29). Over 5 years the correlation is -0.27, and the annualized covariance of weekly returns is -4966.3 %².
Among the 14 assets we track against FMC, IVVD sits near the bottom by co-movement, at rank #14. Correlation aside, the last 12 months split them widely, with IVVD ahead by 75.5 points (-72.2% versus +3.3%). Note the risk asymmetry: IVVD runs 5.4 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.
FMC vs IVVD: side by side
| FMC (FMC Corporation) | IVVD (Invivyd, Inc.) | |
|---|---|---|
| 1-year return | -72.2% | +3.3% |
| 5-year return | -86.6% | -97.2% |
| Volatility (ann.) | 56.2% | 305.9% |
| Beta vs S&P 500 | 0.82 | 1.87 |
| Max drawdown (3Y) | -87.3% | -92.9% |
| Market cap | $1.3B | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 7.40% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FMC | IVVD |
|---|---|---|
| 2022 | +15.7% | -79.3% |
| 2023 | -48.0% | +162.7% |
| 2024 | -19.7% | -88.8% |
| 2025 | -70.0% | +457.6% |
| 2026 | -22.2% | -63.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FMC and IVVD good diversifiers for each other?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
FAQ
What is the correlation between FMC and IVVD?
As of 2026-08-27, the correlation of weekly returns between FMC and IVVD is -0.29 over 3 years, 0.18 over 1 year and -0.27 over 5 years.
Is IVVD a good diversifier for FMC?
By historical standards, yes. A correlation of -0.29 means the two rarely move for the same reasons.
What does a correlation of -0.29 mean?
A reading of -0.29 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: FMC correlations · IVVD correlations
