FUFU vs MBIO: Correlation
How closely do BitFuFu Inc. - Class A (FUFU) and Mustang Bio, Inc. (MBIO) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUFU and MBIO?
On 3 years of weekly data the FUFU/MBIO correlation comes out at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.13) runs below the 3-year figure (0.46). The 5-year figure is 0.44, and annualized covariance runs at 8649.9 %².
Few assets follow FUFU as closely as MBIO, which ranks #1 of 11 tracked partners. Their 12-month results are close: -63.7% for FUFU against -64.0% for MBIO. One caveat on sizing: MBIO is 2.7 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.
FUFU vs MBIO: side by side
| FUFU (BitFuFu Inc. - Class A) | MBIO (Mustang Bio, Inc.) | |
|---|---|---|
| 1-year return | -63.7% | -64.0% |
| 5-year return | -85.4% | -100.0% |
| Volatility (ann.) | 84.0% | 222.7% |
| Beta vs S&P 500 | 1.01 | 1.27 |
| Max drawdown (3Y) | -90.4% | -99.7% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FUFU | MBIO |
|---|---|---|
| 2022 | +3.5% | -76.2% |
| 2023 | +8.0% | -77.2% |
| 2024 | -54.6% | -86.9% |
| 2025 | -46.7% | -88.9% |
| 2026 | -46.2% | -43.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUFU and MBIO good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between FUFU and MBIO?
As of 2026-08-27, the correlation of weekly returns between FUFU and MBIO is 0.46 over 3 years, 0.13 over 1 year and 0.44 over 5 years.
Is MBIO a good diversifier for FUFU?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/fufu-vs-mbio.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fufu-vs-mbio/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FUFU correlations · MBIO correlations
