ANTX vs EDSA: Correlation
Measured on weekly returns over the past three years, AN2 Therapeutics, Inc. (ANTX) and Edesa Biotech, Inc. (EDSA) carry a correlation of 0.48, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANTX and EDSA?
Over the past 3 years, ANTX and EDSA moved with a correlation of 0.48, which is moderate. Little has changed lately, as the 1-year reading of 0.58 lands near the 3-year figure. Over 5 years the correlation is 0.35, and the annualized covariance of weekly returns is 12019.3 %².
By 3-year correlation, EDSA places #6 of the 30 assets tracked against ANTX. The last year tells two different stories: ANTX led by 311.8 percentage points, +403.5% for ANTX against +91.7% for EDSA.
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.
ANTX vs EDSA: side by side
| ANTX (AN2 Therapeutics, Inc.) | EDSA (Edesa Biotech, Inc.) | |
|---|---|---|
| 1-year return | +403.5% | +91.7% |
| 5-year return | -62.7% | -87.4% |
| Volatility (ann.) | 131.4% | 190.4% |
| Beta vs S&P 500 | 0.22 | -0.03 |
| Max drawdown (3Y) | -95.4% | -87.3% |
| Market cap | $0.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ANTX | EDSA |
|---|---|---|
| 2022 | – | -61.6% |
| 2023 | +115.0% | -69.8% |
| 2024 | -93.3% | -63.2% |
| 2025 | -17.4% | -15.5% |
| 2026 | +403.5% | +223.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANTX and EDSA good diversifiers for each other?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ANTX and EDSA?
As of 2026-08-27, the correlation of weekly returns between ANTX and EDSA is 0.48 over 3 years, 0.58 over 1 year and 0.35 over 5 years.
Is EDSA a good diversifier for ANTX?
A fair diversifier. At 0.48, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.48 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/antx-vs-edsa.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/antx-vs-edsa/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ANTX correlations · EDSA correlations
