ADIL vs VANI: Correlation
Adial Pharmaceuticals, Inc (ADIL) and Vivani Medical, Inc. (VANI) show a very strong relationship: their 3-year correlation of weekly returns is 0.80.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADIL and VANI?
Over the past 3 years, ADIL and VANI moved with a correlation of 0.80, which is very strong, meaning they move nearly in lockstep. Lately the two have drifted apart, with the 1-year correlation at 0.14 versus 0.80 over 3 years. Over 5 years the correlation is 0.70, and the annualized covariance of weekly returns is 20235.7 %².
VANI is one of the assets that tracks ADIL most closely: it ranks #1 out of the 19 assets we track against ADIL. Correlation aside, the last 12 months split them widely, with VANI ahead by 54.9 points (-40.1% versus +14.8%). Note the risk asymmetry: ADIL runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
ADIL vs VANI: side by side
| ADIL (Adial Pharmaceuticals, Inc) | VANI (Vivani Medical, Inc.) | |
|---|---|---|
| 1-year return | -40.1% | +14.8% |
| 5-year return | -99.8% | -87.4% |
| Volatility (ann.) | 203.8% | 123.8% |
| Beta vs S&P 500 | 1.29 | 1.29 |
| Max drawdown (3Y) | -98.8% | -77.8% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ADIL | VANI |
|---|---|---|
| 2022 | -91.9% | -82.6% |
| 2023 | -66.2% | +20.0% |
| 2024 | -45.7% | +13.7% |
| 2025 | -78.2% | +6.0% |
| 2026 | +3.5% | +13.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADIL and VANI good diversifiers for each other?
No. With a correlation of 0.80, ADIL and VANI move nearly in lockstep, so holding both adds very little diversification.
FAQ
What is the correlation between ADIL and VANI?
The ADIL/VANI correlation stands at 0.80 on a 3-year window (1 year: 0.14, 5 years: 0.70), computed from weekly returns as of 2026-08-27.
Is VANI a good diversifier for ADIL?
No. With a correlation of 0.80, ADIL and VANI move nearly in lockstep, so holding both adds very little diversification.
What does a correlation of 0.80 mean?
A reading of 0.80 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ADIL correlations · VANI correlations
