ALKS vs HOPE: Correlation
Measured on weekly returns over the past three years, Alkermes plc (ALKS) and Hope Bancorp, Inc. (HOPE) 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 ALKS and HOPE?
Across a 3-year window, the weekly returns of ALKS and HOPE correlate at 0.42, moderate. Recent behaviour matches the longer record: 0.34 over 1 year against 0.42 over 3. Stretching to 5 years gives 0.25, with an annualized covariance of 487.1 %².
By 3-year correlation, HOPE places #4 of the 11 assets tracked against ALKS. Correlation aside, the last 12 months split them widely, with ALKS ahead by 36.3 points (+67.2% versus +30.9%).
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 HOPE: side by side
| ALKS (Alkermes plc) | HOPE (Hope Bancorp, Inc.) | |
|---|---|---|
| 1-year return | +67.2% | +30.9% |
| 5-year return | +55.7% | +29.9% |
| Volatility (ann.) | 39.0% | 29.7% |
| Beta vs S&P 500 | 0.62 | 0.91 |
| Max drawdown (3Y) | -29.3% | -35.1% |
| Market cap | $8.2B | $1.8B |
| P/E (trailing) | 128.7 | 13.8 |
| Dividend yield | 0.00% | 4.02% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ALKS | HOPE |
|---|---|---|
| 2022 | +12.3% | -9.6% |
| 2023 | +6.2% | -0.1% |
| 2024 | +3.7% | +6.8% |
| 2025 | -2.7% | -5.9% |
| 2026 | +74.8% | +31.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ALKS and HOPE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ALKS and HOPE?
The ALKS/HOPE correlation stands at 0.42 on a 3-year window (1 year: 0.34, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is HOPE a good diversifier for ALKS?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 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/alks-vs-hope.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/alks-vs-hope/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ALKS correlations · HOPE correlations
