ANIX vs PTGX: Correlation
How closely do Anixa Biosciences, Inc. (ANIX) and Protagonist Therapeutics, Inc. (PTGX) trade together? Their weekly returns over three years give a correlation of 0.33, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANIX and PTGX?
On 3 years of weekly data the ANIX/PTGX correlation comes out at 0.33, moderate. The relationship has been stable: the 1-year correlation (0.41) sits close to the 3-year figure. The 5-year figure is 0.02, and annualized covariance runs at 996.5 %².
Few assets follow ANIX as closely as PTGX, which ranks #3 of 10 tracked partners. Their recent paths diverged sharply: over the last 12 months PTGX outperformed by 121.4 percentage points (+22.0% for ANIX against +143.4% for PTGX).
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.
ANIX vs PTGX: side by side
| ANIX (Anixa Biosciences, Inc.) | PTGX (Protagonist Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +22.0% | +143.4% |
| 5-year return | -34.3% | +219.7% |
| Volatility (ann.) | 57.0% | 53.0% |
| Beta vs S&P 500 | 0.60 | 0.49 |
| Max drawdown (3Y) | -57.6% | -31.6% |
| Market cap | $0.1B | $9.7B |
| P/E (trailing) | – | 145.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANIX | PTGX |
|---|---|---|
| 2022 | +43.1% | -68.1% |
| 2023 | -8.7% | +110.2% |
| 2024 | -40.2% | +68.3% |
| 2025 | +34.5% | +126.3% |
| 2026 | +15.4% | +71.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANIX and PTGX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ANIX and PTGX?
The ANIX/PTGX correlation stands at 0.33 on a 3-year window (1 year: 0.41, 5 years: 0.02), computed from weekly returns as of 2026-08-27.
Is PTGX a good diversifier for ANIX?
Yes, to a useful degree: a correlation of 0.33 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.33 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: ANIX correlations · PTGX correlations
