ALDX vs TARS: Correlation
How closely do Aldeyra Therapeutics, Inc. (ALDX) and Tarsus Pharmaceuticals, Inc. (TARS) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALDX and TARS?
Over the past 3 years, ALDX and TARS moved with a correlation of 0.36, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.22 versus 0.36 over 3 years. Over 5 years the correlation is 0.26, and the annualized covariance of weekly returns is 2064.3 %².
TARS is close to the least connected end of ALDX's tracked universe, ranking #10 of 13. Correlation aside, the last 12 months split them widely, with TARS ahead by 98.1 points (-73.7% versus +24.4%). One caveat on sizing: ALDX is 2.0 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.
ALDX vs TARS: side by side
| ALDX (Aldeyra Therapeutics, Inc.) | TARS (Tarsus Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -73.7% | +24.4% |
| 5-year return | -83.1% | +171.4% |
| Volatility (ann.) | 107.4% | 53.2% |
| Beta vs S&P 500 | 3.13 | 0.51 |
| Max drawdown (3Y) | -83.8% | -45.1% |
| Market cap | $0.1B | $3.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALDX | TARS |
|---|---|---|
| 2022 | +74.0% | -34.8% |
| 2023 | -49.6% | +38.1% |
| 2024 | +42.2% | +173.4% |
| 2025 | +3.8% | +47.9% |
| 2026 | -70.3% | -12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALDX and TARS good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALDX and TARS?
As of 2026-08-27, the correlation of weekly returns between ALDX and TARS is 0.36 over 3 years, 0.22 over 1 year and 0.26 over 5 years.
Is TARS a good diversifier for ALDX?
Yes, to a useful degree: a correlation of 0.36 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.36 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aldx-vs-tars.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aldx-vs-tars/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALDX correlations · TARS correlations
