ANIP vs BTAI: Correlation
How closely do ANI Pharmaceuticals, Inc. (ANIP) and BioXcel Therapeutics, Inc. (BTAI) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANIP and BTAI?
Over the past 3 years, ANIP and BTAI moved with a correlation of 0.44, which is moderate. The past 12 months show a weaker link (0.04) than the 3-year average (0.44). Over 5 years the correlation is 0.32, and the annualized covariance of weekly returns is 2524.8 %².
In ANIP's tracked universe of 11 assets, BTAI sits right near the top at #1. Correlation aside, the last 12 months split them widely, with ANIP ahead by 61.8 points (-20.0% versus -81.8%). Note the risk asymmetry: BTAI runs 4.6 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.
ANIP vs BTAI: side by side
| ANIP (ANI Pharmaceuticals, Inc.) | BTAI (BioXcel Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -20.0% | -81.8% |
| 5-year return | +168.3% | -99.8% |
| Volatility (ann.) | 35.1% | 162.0% |
| Beta vs S&P 500 | 0.51 | 2.19 |
| Max drawdown (3Y) | -28.7% | -99.2% |
| Market cap | $1.7B | – |
| P/E (trailing) | 16.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANIP | BTAI |
|---|---|---|
| 2022 | -12.7% | +5.7% |
| 2023 | +37.1% | -86.3% |
| 2024 | +0.3% | -87.3% |
| 2025 | +42.8% | -73.3% |
| 2026 | -6.9% | -55.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANIP and BTAI good diversifiers for each other?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ANIP and BTAI?
As of 2026-08-27, the correlation of weekly returns between ANIP and BTAI is 0.44 over 3 years, 0.04 over 1 year and 0.32 over 5 years.
Is BTAI a good diversifier for ANIP?
A fair diversifier. At 0.44, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.44 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.
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Related comparisons
Hubs: ANIP correlations · BTAI correlations
