APGE vs PBM: Correlation
Measured on weekly returns over the past three years, Apogee Therapeutics, Inc. (APGE) and Psyence Biomedical Ltd. (PBM) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APGE and PBM?
Across a 3-year window, the weekly returns of APGE and PBM correlate at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.20) runs below the 3-year figure (0.46). Stretching to 5 years gives n/a, with an annualized covariance of 9647.4 %².
Within APGE's tracked universe of 14 assets, PBM comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months APGE outperformed by 353.6 percentage points (+257.1% for APGE against -96.5% for PBM). One caveat on sizing: PBM is 3.1 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
APGE vs PBM: side by side
| APGE (Apogee Therapeutics, Inc.) | PBM (Psyence Biomedical Ltd.) | |
|---|---|---|
| 1-year return | +257.1% | -96.5% |
| 5-year return | n/a | -100.0% |
| Volatility (ann.) | 82.6% | 254.5% |
| Beta vs S&P 500 | 1.06 | 3.60 |
| Max drawdown (3Y) | -58.8% | -100.0% |
| Market cap | $10.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APGE | PBM |
|---|---|---|
| 2022 | – | +3.7% |
| 2023 | – | -10.1% |
| 2024 | +62.1% | -99.7% |
| 2025 | +66.6% | -95.5% |
| 2026 | +78.8% | -85.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APGE and PBM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between APGE and PBM?
As of 2026-08-27, the correlation of weekly returns between APGE and PBM is 0.46 over 3 years, 0.20 over 1 year and n/a over 5 years.
Is PBM a good diversifier for APGE?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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/apge-vs-pbm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/apge-vs-pbm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APGE correlations · PBM correlations
