APVO vs EBS: Correlation
Measured on weekly returns over the past three years, Aptevo Therapeutics Inc. (APVO) and Emergent BioSolutions Inc. (EBS) carry a correlation of 0.29, a weak link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APVO and EBS?
On 3 years of weekly data the APVO/EBS correlation comes out at 0.29, weak. Lately the two have drifted apart, with the 1-year correlation at 0.05 versus 0.29 over 3 years. The 5-year figure is 0.23, and annualized covariance runs at 4251.8 %².
Within APVO's tracked universe of 12 assets, EBS comes in at #4 by 3-year correlation. Correlation aside, the last 12 months split them widely, with EBS ahead by 61.7 points (-92.5% versus -30.8%).
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.
APVO vs EBS: side by side
| APVO (Aptevo Therapeutics Inc.) | EBS (Emergent BioSolutions Inc.) | |
|---|---|---|
| 1-year return | -92.5% | -30.8% |
| 5-year return | -100.0% | -90.7% |
| Volatility (ann.) | 121.4% | 122.0% |
| Beta vs S&P 500 | 0.17 | 2.69 |
| Max drawdown (3Y) | -100.0% | -71.2% |
| Market cap | – | $0.3B |
| P/E (trailing) | 0.0 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APVO | EBS |
|---|---|---|
| 2022 | -70.5% | -72.8% |
| 2023 | -92.2% | -79.7% |
| 2024 | -98.5% | +298.3% |
| 2025 | -99.4% | +29.3% |
| 2026 | -74.3% | -51.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APVO and EBS good diversifiers for each other?
Reasonably. At 0.29, APVO and EBS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APVO and EBS?
As of 2026-08-27, the correlation of weekly returns between APVO and EBS is 0.29 over 3 years, 0.05 over 1 year and 0.23 over 5 years.
Is EBS a good diversifier for APVO?
Reasonably. At 0.29, APVO and EBS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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/apvo-vs-ebs.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apvo-vs-ebs/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: APVO correlations · EBS correlations
