ANNX vs OLMA: Correlation
How closely do Annexon, Inc. (ANNX) and Olema Pharmaceuticals, Inc. (OLMA) 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 ANNX and OLMA?
Across a 3-year window, the weekly returns of ANNX and OLMA correlate at 0.44, moderate. The link has tightened recently: the 1-year correlation (0.70) runs above the 3-year figure (0.44). Stretching to 5 years gives 0.39, with an annualized covariance of 5394.3 %².
Within ANNX's tracked universe of 13 assets, OLMA comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ANNX ahead by 60.8 points (+148.8% versus +88.0%).
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.
ANNX vs OLMA: side by side
| ANNX (Annexon, Inc.) | OLMA (Olema Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +148.8% | +88.0% |
| 5-year return | -68.9% | -64.1% |
| Volatility (ann.) | 92.8% | 133.2% |
| Beta vs S&P 500 | 1.72 | 1.18 |
| Max drawdown (3Y) | -82.3% | -82.1% |
| Market cap | $1.0B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANNX | OLMA |
|---|---|---|
| 2022 | -55.0% | -73.8% |
| 2023 | -12.2% | +472.7% |
| 2024 | +13.0% | -58.4% |
| 2025 | -2.1% | +328.8% |
| 2026 | +4.6% | -56.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANNX and OLMA good diversifiers for each other?
Reasonably. At 0.44, ANNX and OLMA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ANNX and OLMA?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.70 over the last year and 0.39 over 5 years.
Is OLMA a good diversifier for ANNX?
Reasonably. At 0.44, ANNX and OLMA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.44 mean?
A reading of 0.44 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/annx-vs-olma.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/annx-vs-olma/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ANNX correlations · OLMA correlations
