APPN vs ENSC: Correlation
Measured on weekly returns over the past three years, Appian Corporation (APPN) and Ensysce Biosciences, Inc. (ENSC) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APPN and ENSC?
On 3 years of weekly data the APPN/ENSC correlation comes out at 0.39, moderate. Little has changed lately, as the 1-year reading of 0.46 lands near the 3-year figure. The 5-year figure is 0.25, and annualized covariance runs at 3216.4 %².
Within APPN's tracked universe of 13 assets, ENSC comes in at #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months APPN outperformed by 121.1 percentage points (+40.3% for APPN against -80.8% for ENSC). One caveat on sizing: ENSC is 2.7 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.
APPN vs ENSC: side by side
| APPN (Appian Corporation) | ENSC (Ensysce Biosciences, Inc.) | |
|---|---|---|
| 1-year return | +40.3% | -80.8% |
| 5-year return | -61.6% | -100.0% |
| Volatility (ann.) | 55.0% | 150.3% |
| Beta vs S&P 500 | 1.18 | 2.11 |
| Max drawdown (3Y) | -64.0% | -99.1% |
| Market cap | $3.0B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APPN | ENSC |
|---|---|---|
| 2022 | -50.1% | -99.2% |
| 2023 | +15.7% | -88.2% |
| 2024 | -12.4% | -48.8% |
| 2025 | +7.4% | -88.7% |
| 2026 | +16.9% | -56.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APPN and ENSC good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between APPN and ENSC?
As of 2026-08-27, the correlation of weekly returns between APPN and ENSC is 0.39 over 3 years, 0.46 over 1 year and 0.25 over 5 years.
Is ENSC a good diversifier for APPN?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/appn-vs-ensc.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/appn-vs-ensc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APPN correlations · ENSC correlations
