ADSE vs INCY: Correlation
ADS-TEC ENERGY PLC (ADSE) and Incyte (INCY) show a negative relationship: their 3-year correlation of weekly returns is -0.19.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ADSE and INCY?
On 3 years of weekly data the ADSE/INCY correlation comes out at -0.19, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.27) sits close to the 3-year figure. The 5-year figure is -0.14, and annualized covariance runs at -314.6 %².
Among the 11 assets we track against ADSE, INCY sits near the bottom by co-movement, at rank #8. Their recent paths diverged sharply: over the last 12 months INCY outperformed by 58.7 percentage points (-8.1% for ADSE against +50.6% for INCY).
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.
ADSE vs INCY: side by side
| ADSE (ADS-TEC ENERGY PLC) | INCY (Incyte) | |
|---|---|---|
| 1-year return | -8.1% | +50.6% |
| 5-year return | +14.5% | +68.0% |
| Volatility (ann.) | 49.2% | 33.1% |
| Beta vs S&P 500 | 0.35 | 0.45 |
| Max drawdown (3Y) | -48.1% | -33.8% |
| Market cap | $0.8B | $25.9B |
| P/E (trailing) | – | 16.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Health Care |
Year-by-year returns
| Year | ADSE | INCY |
|---|---|---|
| 2022 | -65.8% | +9.4% |
| 2023 | +129.2% | -21.8% |
| 2024 | +116.9% | +10.0% |
| 2025 | -18.2% | +43.0% |
| 2026 | -10.9% | +29.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ADSE and INCY good diversifiers for each other?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
FAQ
What is the correlation between ADSE and INCY?
Using weekly returns as of 2026-08-27: -0.19 over 3 years, with -0.27 over the last year and -0.14 over 5 years.
Is INCY a good diversifier for ADSE?
By historical standards, yes. A correlation of -0.19 means the two rarely move for the same reasons.
What does a correlation of -0.19 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.
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Related comparisons
Hubs: ADSE correlations · INCY correlations
