FXHO vs VRAX: Correlation
How closely do UTime Limited - Class A (FXHO) and Virax Biolabs Group Limited (VRAX) trade together? Their weekly returns over three years give a correlation of 0.34, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are FXHO and VRAX?
Over the past 3 years, FXHO and VRAX moved with a correlation of 0.34, which is moderate. The relationship has been stable: the 1-year correlation (0.32) sits close to the 3-year figure. Over 5 years the correlation is 0.29, and the annualized covariance of weekly returns is 9358.8 %².
VRAX is one of the assets that tracks FXHO most closely: it ranks #2 out of the 12 assets we track against FXHO. Correlation aside, the last 12 months split them widely, with VRAX ahead by 19.6 points (-99.8% versus -80.2%).
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.
FXHO vs VRAX: side by side
| FXHO (UTime Limited - Class A) | VRAX (Virax Biolabs Group Limited) | |
|---|---|---|
| 1-year return | -99.8% | -80.2% |
| 5-year return | -100.0% | n/a |
| Volatility (ann.) | 175.7% | 158.1% |
| Beta vs S&P 500 | 1.88 | 2.55 |
| Max drawdown (3Y) | -100.0% | -98.4% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | FXHO | VRAX |
|---|---|---|
| 2022 | -66.6% | – |
| 2023 | -69.2% | -80.0% |
| 2024 | -95.4% | +54.1% |
| 2025 | -99.7% | -84.6% |
| 2026 | -80.2% | -66.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are FXHO and VRAX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between FXHO and VRAX?
As of 2026-08-27, the correlation of weekly returns between FXHO and VRAX is 0.34 over 3 years, 0.32 over 1 year and 0.29 over 5 years.
Is VRAX a good diversifier for FXHO?
Yes, to a useful degree: a correlation of 0.34 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.34 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/fxho-vs-vrax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/fxho-vs-vrax/)
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Related comparisons
Hubs: FXHO correlations · VRAX correlations
