If two organisms show a developmental homology you would also definitely expect them to share genetic homologies.
Homology is the similarity between two organisms. This similarity can be of body structures, physiology, etc. This homology is generally due to shared ancestral history between two organisms. For example, the wings of a bird and bats are homologous structures, this is because they have a common anatomy.
Genetic homology refers to the arrival from the same gene from a common ancestor. The same gene is shared between two organisms who may not be related in any other matter. Genetic homology can even be depicted by the sequences of a protein.
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