KBSX vs TELA: Correlation
How closely do FST Corp. (KBSX) and TELA Bio, Inc. (TELA) trade together? Their weekly returns over three years give a correlation of -0.20, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are KBSX and TELA?
Across a 3-year window, the weekly returns of KBSX and TELA correlate at -0.20, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (-0.01) runs above the 3-year figure (-0.20). Stretching to 5 years gives -0.18, with an annualized covariance of -1319.2 %².
Among the 16 assets we track against KBSX, TELA ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months KBSX outperformed by 23.6 percentage points (-39.5% for KBSX against -63.1% for TELA).
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.
KBSX vs TELA: side by side
| KBSX (FST Corp.) | TELA (TELA Bio, Inc.) | |
|---|---|---|
| 1-year return | -39.5% | -63.1% |
| 5-year return | -89.8% | -95.2% |
| Volatility (ann.) | 88.4% | 75.9% |
| Beta vs S&P 500 | 0.95 | 0.88 |
| Max drawdown (3Y) | -94.0% | -94.2% |
| Market cap | – | – |
| P/E (trailing) | 8.4 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | KBSX | TELA |
|---|---|---|
| 2022 | – | -10.2% |
| 2023 | +7.3% | -42.4% |
| 2024 | -12.7% | -54.4% |
| 2025 | -85.5% | -60.9% |
| 2026 | -27.9% | -44.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are KBSX and TELA good diversifiers for each other?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between KBSX and TELA?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.01 over the last year and -0.18 over 5 years.
Is TELA a good diversifier for KBSX?
Yes: at -0.20, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.20 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/kbsx-vs-tela.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/kbsx-vs-tela/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: KBSX correlations · TELA correlations
