AGO vs AKBA: Correlation
How closely do Assured Guaranty Ltd. (AGO) and Akebia Therapeutics, Inc. (AKBA) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AGO and AKBA?
On 3 years of weekly data the AGO/AKBA correlation comes out at 0.38, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.38 over 3. The 5-year figure is 0.24, and annualized covariance runs at 615.4 %².
Among the 14 assets we track against AGO, AKBA ranks #7 by 3-year correlation. The last year tells two different stories: AGO led by 62.6 percentage points, -6.2% for AGO against -68.8% for AKBA. One caveat on sizing: AKBA is 3.5 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AGO vs AKBA: side by side
| AGO (Assured Guaranty Ltd.) | AKBA (Akebia Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -6.2% | -68.8% |
| 5-year return | +64.9% | -66.7% |
| Volatility (ann.) | 21.4% | 75.3% |
| Beta vs S&P 500 | 0.51 | 1.02 |
| Max drawdown (3Y) | -22.0% | -79.0% |
| Market cap | $3.3B | $0.3B |
| P/E (trailing) | 10.1 | – |
| Dividend yield | 1.90% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AGO | AKBA |
|---|---|---|
| 2022 | +26.2% | -74.5% |
| 2023 | +22.5% | +114.9% |
| 2024 | +22.1% | +53.2% |
| 2025 | +0.6% | -15.3% |
| 2026 | -14.4% | -41.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AGO and AKBA good diversifiers for each other?
Reasonably. At 0.38, AGO and AKBA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AGO and AKBA?
As of 2026-08-27, the correlation of weekly returns between AGO and AKBA is 0.38 over 3 years, 0.29 over 1 year and 0.24 over 5 years.
Is AKBA a good diversifier for AGO?
Reasonably. At 0.38, AGO and AKBA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ago-vs-akba.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ago-vs-akba/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AGO correlations · AKBA correlations
