ALKS vs AXSM: Correlation
How closely do Alkermes plc (ALKS) and Axsome Therapeutics, Inc. (AXSM) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ALKS and AXSM?
On 3 years of weekly data the ALKS/AXSM correlation comes out at 0.41, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.41 over 3 years. The 5-year figure is 0.28, and annualized covariance runs at 628.8 %².
Among the 11 assets we track against ALKS, AXSM ranks #6 by 3-year correlation. Their 12-month results are close: +67.2% for ALKS against +69.3% for AXSM.
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.
ALKS vs AXSM: side by side
| ALKS (Alkermes plc) | AXSM (Axsome Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +67.2% | +69.3% |
| 5-year return | +55.7% | +746.1% |
| Volatility (ann.) | 39.0% | 39.4% |
| Beta vs S&P 500 | 0.62 | 0.82 |
| Max drawdown (3Y) | -29.3% | -32.7% |
| Market cap | $8.2B | $10.8B |
| P/E (trailing) | 128.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALKS | AXSM |
|---|---|---|
| 2022 | +12.3% | +104.2% |
| 2023 | +6.2% | +3.2% |
| 2024 | +3.7% | +6.3% |
| 2025 | -2.7% | +115.9% |
| 2026 | +74.8% | +12.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALKS and AXSM good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ALKS and AXSM?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.23 over the last year and 0.28 over 5 years.
Is AXSM a good diversifier for ALKS?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ALKS correlations · AXSM correlations
