FTCI vs IMRX: Correlation
Measured on weekly returns over the past three years, FTC Solar, Inc. (FTCI) and Immuneering Corporation (IMRX) carry a correlation of 0.45, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTCI and IMRX?
On 3 years of weekly data the FTCI/IMRX correlation comes out at 0.45, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.11 versus 0.45 over 3 years. The 5-year figure is 0.31, and annualized covariance runs at 6360.4 %².
Within FTCI's tracked universe of 12 assets, IMRX comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IMRX ahead by 62.8 points (-62.4% versus +0.4%).
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.
FTCI vs IMRX: side by side
| FTCI (FTC Solar, Inc.) | IMRX (Immuneering Corporation) | |
|---|---|---|
| 1-year return | -62.4% | +0.4% |
| 5-year return | -97.8% | -80.2% |
| Volatility (ann.) | 122.6% | 116.1% |
| Beta vs S&P 500 | 2.61 | 2.14 |
| Max drawdown (3Y) | -90.4% | -88.7% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTCI | IMRX |
|---|---|---|
| 2022 | -64.6% | -70.0% |
| 2023 | -74.1% | +51.5% |
| 2024 | -20.5% | -70.1% |
| 2025 | +98.0% | +199.1% |
| 2026 | -77.7% | -20.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTCI and IMRX good diversifiers for each other?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FTCI and IMRX?
Using weekly returns as of 2026-08-27: 0.45 over 3 years, with 0.11 over the last year and 0.31 over 5 years.
Is IMRX a good diversifier for FTCI?
A fair diversifier. At 0.45, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.45 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/ftci-vs-imrx.json
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[](https://www.pairbook.io/pair/ftci-vs-imrx/)
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Related comparisons
Hubs: FTCI correlations · IMRX correlations
