FTRE vs NBIX: Correlation
Fortrea Holdings Inc. (FTRE) and Neurocrine Biosciences, Inc. (NBIX) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FTRE and NBIX?
Over the past 3 years, FTRE and NBIX moved with a correlation of 0.38, which is moderate. The past 12 months show a tighter link (0.60) than the 3-year average (0.38). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 960.0 %².
Among the 12 assets we track against FTRE, NBIX ranks #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with FTRE ahead by 96.0 points (+108.9% versus +12.9%). One caveat on sizing: FTRE is 2.5 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.
FTRE vs NBIX: side by side
| FTRE (Fortrea Holdings Inc.) | NBIX (Neurocrine Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +108.9% | +12.9% |
| 5-year return | n/a | +62.5% |
| Volatility (ann.) | 78.9% | 31.8% |
| Beta vs S&P 500 | 1.59 | 0.60 |
| Max drawdown (3Y) | -89.9% | -42.9% |
| Market cap | $1.8B | $15.8B |
| P/E (trailing) | – | 22.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FTRE | NBIX |
|---|---|---|
| 2022 | – | +40.2% |
| 2023 | – | +10.3% |
| 2024 | -46.6% | +3.6% |
| 2025 | -7.5% | +3.9% |
| 2026 | +9.3% | +9.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FTRE and NBIX good diversifiers for each other?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FTRE and NBIX?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.60 over the last year and n/a over 5 years.
Is NBIX a good diversifier for FTRE?
A fair diversifier. At 0.38, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.38 mean?
A reading of 0.38 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: FTRE correlations · NBIX correlations
