ANTX vs SW: Correlation
How closely do AN2 Therapeutics, Inc. (ANTX) and Smurfit Westrock (SW) trade together? Their weekly returns over three years give a correlation of -0.14, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ANTX and SW?
Across a 3-year window, the weekly returns of ANTX and SW correlate at -0.14, negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.27) runs below the 3-year figure (-0.14). Stretching to 5 years gives -0.03, with an annualized covariance of -739.8 %².
By 3-year correlation, SW places #17 of the 30 assets tracked against ANTX. Their recent paths diverged sharply: over the last 12 months ANTX outperformed by 393.8 percentage points (+403.5% for ANTX against +9.7% for SW). Note the risk asymmetry: ANTX runs 3.3 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.
ANTX vs SW: side by side
| ANTX (AN2 Therapeutics, Inc.) | SW (Smurfit Westrock) | |
|---|---|---|
| 1-year return | +403.5% | +9.7% |
| 5-year return | -62.7% | +2.6% |
| Volatility (ann.) | 131.4% | 40.1% |
| Beta vs S&P 500 | 0.22 | 0.92 |
| Max drawdown (3Y) | -95.4% | -40.5% |
| Market cap | $0.2B | $25.5B |
| P/E (trailing) | – | 51.7 |
| Dividend yield | 0.00% | 3.57% |
| Sector / category | US Listed | Materials |
Year-by-year returns
| Year | ANTX | SW |
|---|---|---|
| 2022 | – | -28.0% |
| 2023 | +115.0% | +14.1% |
| 2024 | -93.3% | +37.6% |
| 2025 | -17.4% | -26.2% |
| 2026 | +403.5% | +29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ANTX and SW good diversifiers for each other?
Yes: at -0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ANTX and SW?
The ANTX/SW correlation stands at -0.14 on a 3-year window (1 year: -0.27, 5 years: -0.03), computed from weekly returns as of 2026-08-27.
Is SW a good diversifier for ANTX?
Yes: at -0.14, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.14 mean?
A reading of -0.14 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/antx-vs-sw.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/antx-vs-sw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ANTX correlations · SW correlations
