ALDX vs EEA: Correlation
Measured on weekly returns over the past three years, Aldeyra Therapeutics, Inc. (ALDX) and The European Equity Fund, Inc. (EEA) carry a correlation of 0.52, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALDX and EEA?
On 3 years of weekly data the ALDX/EEA correlation comes out at 0.52, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.52). The 5-year figure is 0.37, and annualized covariance runs at 859.9 %².
By 3-year correlation, EEA places #5 of the 13 assets tracked against ALDX. Their recent paths diverged sharply: over the last 12 months EEA outperformed by 85.4 percentage points (-73.7% for ALDX against +11.7% for EEA). Note the risk asymmetry: ALDX runs 7.0 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.
ALDX vs EEA: side by side
| ALDX (Aldeyra Therapeutics, Inc.) | EEA (The European Equity Fund, Inc.) | |
|---|---|---|
| 1-year return | -73.7% | +11.7% |
| 5-year return | -83.1% | +34.8% |
| Volatility (ann.) | 107.4% | 15.4% |
| Beta vs S&P 500 | 3.13 | 0.61 |
| Max drawdown (3Y) | -83.8% | -14.1% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | 4.2 |
| Dividend yield | 0.00% | 6.92% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALDX | EEA |
|---|---|---|
| 2022 | +74.0% | -19.0% |
| 2023 | -49.6% | +17.2% |
| 2024 | +42.2% | -3.5% |
| 2025 | +3.8% | +28.8% |
| 2026 | -70.3% | +13.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALDX and EEA good diversifiers for each other?
Only partially. A correlation of 0.52 means ALDX and EEA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between ALDX and EEA?
As of 2026-08-27, the correlation of weekly returns between ALDX and EEA is 0.52 over 3 years, 0.66 over 1 year and 0.37 over 5 years.
Is EEA a good diversifier for ALDX?
Only partially. A correlation of 0.52 means ALDX and EEA share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.52 mean?
On the −1 to +1 scale, 0.52 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-eea.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aldx-vs-eea/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALDX correlations · EEA correlations
