FTEK vs HYPD: Correlation
Measured on weekly returns over the past three years, Fuel Tech, Inc. (FTEK) and Hyperion DeFi, Inc. (HYPD) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTEK and HYPD?
On 3 years of weekly data the FTEK/HYPD correlation comes out at 0.43, moderate. Little has changed lately, as the 1-year reading of 0.40 lands near the 3-year figure. The 5-year figure is 0.39, and annualized covariance runs at 5331.4 %².
In FTEK's tracked universe of 13 assets, HYPD sits right near the top at #1. Their 12-month results are close: -49.8% for FTEK against -47.5% for HYPD. One caveat on sizing: HYPD is 3.7 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.
FTEK vs HYPD: side by side
| FTEK (Fuel Tech, Inc.) | HYPD (Hyperion DeFi, Inc.) | |
|---|---|---|
| 1-year return | -49.8% | -47.5% |
| 5-year return | -21.1% | -99.1% |
| Volatility (ann.) | 58.1% | 215.9% |
| Beta vs S&P 500 | 0.70 | 3.08 |
| Max drawdown (3Y) | -67.2% | -99.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTEK | HYPD |
|---|---|---|
| 2022 | -9.3% | -59.3% |
| 2023 | -17.3% | +27.6% |
| 2024 | +0.0% | -93.0% |
| 2025 | +48.6% | -69.5% |
| 2026 | -6.4% | +1.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTEK and HYPD good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FTEK and HYPD?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.40 over the last year and 0.39 over 5 years.
Is HYPD a good diversifier for FTEK?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 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/ftek-vs-hypd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ftek-vs-hypd/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FTEK correlations · HYPD correlations
