ADCT vs HRTX: Correlation
ADC Therapeutics SA (ADCT) and Heron Therapeutics, Inc. (HRTX) show a moderate relationship: their 3-year correlation of weekly returns is 0.48.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADCT and HRTX?
On 3 years of weekly data the ADCT/HRTX correlation comes out at 0.48, moderate. The relationship has been stable: the 1-year correlation (0.54) sits close to the 3-year figure. The 5-year figure is 0.44, and annualized covariance runs at 5474.0 %².
HRTX is one of the assets that tracks ADCT most closely: it ranks #2 out of the 15 assets we track against ADCT. The trailing year gives ADCT the advantage: -65.2% versus -75.6%, a 10.4-point spread.
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.
ADCT vs HRTX: side by side
| ADCT (ADC Therapeutics SA) | HRTX (Heron Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -65.2% | -75.6% |
| 5-year return | -96.1% | -97.1% |
| Volatility (ann.) | 116.4% | 99.0% |
| Beta vs S&P 500 | 2.51 | 1.84 |
| Max drawdown (3Y) | -81.9% | -92.2% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADCT | HRTX |
|---|---|---|
| 2022 | -81.0% | -72.6% |
| 2023 | -56.8% | -32.0% |
| 2024 | +19.9% | -10.0% |
| 2025 | +77.4% | -15.0% |
| 2026 | -68.3% | -74.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADCT and HRTX good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ADCT and HRTX?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.54 over the last year and 0.44 over 5 years.
Is HRTX a good diversifier for ADCT?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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/adct-vs-hrtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/adct-vs-hrtx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ADCT correlations · HRTX correlations
