FNUC vs XBIT: Correlation
How closely do Frontier Nuclear and Minerals Inc. (FNUC) and XBiotech Inc. (XBIT) trade together? Their weekly returns over three years give a correlation of -0.33, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FNUC and XBIT?
On 3 years of weekly data the FNUC/XBIT correlation comes out at -0.33, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.15) than the 3-year average (-0.33). The 5-year figure is -0.21, and annualized covariance runs at -4809.7 %².
Among the 26 assets we track against FNUC, XBIT sits near the bottom by co-movement, at rank #26. Their recent paths diverged sharply: over the last 12 months XBIT outperformed by 25.2 percentage points (-59.1% for FNUC against -33.9% for XBIT). One caveat on sizing: FNUC is 3.9 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.
FNUC vs XBIT: side by side
| FNUC (Frontier Nuclear and Minerals Inc.) | XBIT (XBiotech Inc.) | |
|---|---|---|
| 1-year return | -59.1% | -33.9% |
| 5-year return | -99.0% | -85.8% |
| Volatility (ann.) | 237.4% | 60.9% |
| Beta vs S&P 500 | 1.55 | 1.09 |
| Max drawdown (3Y) | -94.2% | -78.6% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FNUC | XBIT |
|---|---|---|
| 2022 | -60.4% | -68.5% |
| 2023 | -48.7% | +14.0% |
| 2024 | -17.9% | -1.2% |
| 2025 | -76.0% | -39.5% |
| 2026 | -43.3% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FNUC and XBIT good diversifiers for each other?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
FAQ
What is the correlation between FNUC and XBIT?
Using weekly returns as of 2026-08-27: -0.33 over 3 years, with 0.15 over the last year and -0.21 over 5 years.
Is XBIT a good diversifier for FNUC?
By historical standards, yes. A correlation of -0.33 means the two rarely move for the same reasons.
What does a correlation of -0.33 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
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[](https://www.pairbook.io/pair/fnuc-vs-xbit/)
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Related comparisons
Hubs: FNUC correlations · XBIT correlations
