FUSE vs MSAI: Correlation
Measured on weekly returns over the past three years, Fusemachines Inc. (FUSE) and MultiSensor AI Holdings, Inc. (MSAI) carry a correlation of -0.27, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUSE and MSAI?
Across a 3-year window, the weekly returns of FUSE and MSAI correlate at -0.27, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.48) runs below the 3-year figure (-0.27). Stretching to 5 years gives -0.27, with an annualized covariance of -3710.0 %².
Out of 15 assets tracked against FUSE, MSAI lands near the bottom at #12. On 12-month performance MSAI holds a 13.1-point edge, -94.6% against -81.5%.
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.
FUSE vs MSAI: side by side
| FUSE (Fusemachines Inc.) | MSAI (MultiSensor AI Holdings, Inc.) | |
|---|---|---|
| 1-year return | -94.6% | -81.5% |
| 5-year return | -92.2% | -98.6% |
| Volatility (ann.) | 111.4% | 122.9% |
| Beta vs S&P 500 | 0.31 | 1.24 |
| Max drawdown (3Y) | -96.0% | -99.1% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FUSE | MSAI |
|---|---|---|
| 2022 | – | +4.0% |
| 2023 | +7.6% | -67.2% |
| 2024 | +5.6% | -45.1% |
| 2025 | -85.7% | -84.3% |
| 2026 | -53.8% | -52.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUSE and MSAI good diversifiers for each other?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between FUSE and MSAI?
The FUSE/MSAI correlation stands at -0.27 on a 3-year window (1 year: -0.48, 5 years: -0.27), computed from weekly returns as of 2026-08-27.
Is MSAI a good diversifier for FUSE?
Yes: at -0.27, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.27 mean?
A reading of -0.27 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fuse-vs-msai.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fuse-vs-msai/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: FUSE correlations · MSAI correlations
