AORT vs PHAR: Correlation
Artivion, Inc. (AORT) and Pharming Group N.V. (PHAR) show a moderate relationship: their 3-year correlation of weekly returns is 0.31.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AORT and PHAR?
Across a 3-year window, the weekly returns of AORT and PHAR correlate at 0.31, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. Stretching to 5 years gives 0.24, with an annualized covariance of 771.6 %².
Among the 15 assets we track against AORT, PHAR ranks #8 by 3-year correlation. The last year tells two different stories: PHAR led by 23.3 percentage points, -39.0% for AORT against -15.7% for PHAR.
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.
AORT vs PHAR: side by side
| AORT (Artivion, Inc.) | PHAR (Pharming Group N.V.) | |
|---|---|---|
| 1-year return | -39.0% | -15.7% |
| 5-year return | +3.6% | +11.7% |
| Volatility (ann.) | 47.1% | 52.7% |
| Beta vs S&P 500 | 0.88 | 0.52 |
| Max drawdown (3Y) | -57.8% | -57.3% |
| Market cap | $1.3B | $0.8B |
| P/E (trailing) | – | 84.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AORT | PHAR |
|---|---|---|
| 2022 | -40.4% | +23.4% |
| 2023 | +47.5% | +3.6% |
| 2024 | +59.9% | -11.9% |
| 2025 | +59.5% | +75.6% |
| 2026 | -41.5% | -33.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AORT and PHAR good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AORT and PHAR?
Using weekly returns as of 2026-08-27: 0.31 over 3 years, with 0.36 over the last year and 0.24 over 5 years.
Is PHAR a good diversifier for AORT?
Yes, to a useful degree: a correlation of 0.31 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.31 mean?
On the −1 to +1 scale, 0.31 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aort-vs-phar.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/aort-vs-phar/)
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Related comparisons
Hubs: AORT correlations · PHAR correlations
