ALDX vs AWRE: Correlation
Measured on weekly returns over the past three years, Aldeyra Therapeutics, Inc. (ALDX) and Aware, Inc. (AWRE) carry a correlation of 0.42, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALDX and AWRE?
Over the past 3 years, ALDX and AWRE moved with a correlation of 0.42, which is moderate. Recent behaviour matches the longer record: 0.33 over 1 year against 0.42 over 3. Over 5 years the correlation is 0.37, and the annualized covariance of weekly returns is 2948.3 %².
Within ALDX's tracked universe of 13 assets, AWRE comes in at #7 by 3-year correlation. The last year tells two different stories: AWRE led by 28.9 percentage points, -73.7% for ALDX against -44.8% for AWRE. Risk is not evenly split, since ALDX carries 1.6 times the volatility of the other side.
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.
ALDX vs AWRE: side by side
| ALDX (Aldeyra Therapeutics, Inc.) | AWRE (Aware, Inc.) | |
|---|---|---|
| 1-year return | -73.7% | -44.8% |
| 5-year return | -83.1% | -69.6% |
| Volatility (ann.) | 107.4% | 65.6% |
| Beta vs S&P 500 | 3.13 | 1.56 |
| Max drawdown (3Y) | -83.8% | -62.9% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALDX | AWRE |
|---|---|---|
| 2022 | +74.0% | -45.7% |
| 2023 | -49.6% | -2.9% |
| 2024 | +42.2% | +17.5% |
| 2025 | +3.8% | -5.1% |
| 2026 | -70.3% | -33.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALDX and AWRE good diversifiers for each other?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALDX and AWRE?
The ALDX/AWRE correlation stands at 0.42 on a 3-year window (1 year: 0.33, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is AWRE a good diversifier for ALDX?
A fair diversifier. At 0.42, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.42 mean?
On the −1 to +1 scale, 0.42 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aldx-vs-awre.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aldx-vs-awre/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ALDX correlations · AWRE correlations
