FUSE vs SCNX: Correlation
Measured on weekly returns over the past three years, Fusemachines Inc. (FUSE) and Scienture Holdings, Inc. (SCNX) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FUSE and SCNX?
On 3 years of weekly data the FUSE/SCNX correlation comes out at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.42 versus -0.23 over 3 years. The 5-year figure is -0.21, and annualized covariance runs at -4978.9 %².
Among the 15 assets we track against FUSE, SCNX ranks #10 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months SCNX outperformed by 31.5 percentage points (-94.6% for FUSE against -63.1% for SCNX). One caveat on sizing: SCNX is 1.7 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.
FUSE vs SCNX: side by side
| FUSE (Fusemachines Inc.) | SCNX (Scienture Holdings, Inc.) | |
|---|---|---|
| 1-year return | -94.6% | -63.1% |
| 5-year return | -92.2% | -99.2% |
| Volatility (ann.) | 111.4% | 193.3% |
| Beta vs S&P 500 | 0.31 | 2.75 |
| Max drawdown (3Y) | -96.0% | -98.9% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FUSE | SCNX |
|---|---|---|
| 2022 | – | -82.9% |
| 2023 | +7.6% | -14.0% |
| 2024 | +5.6% | +86.9% |
| 2025 | -85.7% | -91.6% |
| 2026 | -53.8% | -25.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FUSE and SCNX good diversifiers for each other?
Yes. With a correlation of -0.23, FUSE and SCNX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between FUSE and SCNX?
The FUSE/SCNX correlation stands at -0.23 on a 3-year window (1 year: -0.42, 5 years: -0.21), computed from weekly returns as of 2026-08-27.
Is SCNX a good diversifier for FUSE?
Yes. With a correlation of -0.23, FUSE and SCNX have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 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-scnx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/fuse-vs-scnx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: FUSE correlations · SCNX correlations
