APYX vs SHOO: Correlation
Measured on weekly returns over the past three years, Apyx Medical Corporation (APYX) and Steven Madden, Ltd. (SHOO) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are APYX and SHOO?
Over the past 3 years, APYX and SHOO moved with a correlation of 0.37, which is moderate. Recent behaviour matches the longer record: 0.27 over 1 year against 0.37 over 3. Over 5 years the correlation is 0.25, and the annualized covariance of weekly returns is 1212.5 %².
Among the 10 assets we track against APYX, SHOO ranks #5 by 3-year correlation. Twelve-month performance is nearly a tie, at +51.5% for APYX and +55.5% for SHOO. Note the risk asymmetry: APYX runs 2.2 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.
APYX vs SHOO: side by side
| APYX (Apyx Medical Corporation) | SHOO (Steven Madden, Ltd.) | |
|---|---|---|
| 1-year return | +51.5% | +55.5% |
| 5-year return | -73.8% | +22.4% |
| Volatility (ann.) | 85.7% | 38.3% |
| Beta vs S&P 500 | 1.70 | 1.13 |
| Max drawdown (3Y) | -81.6% | -60.2% |
| Market cap | $0.1B | $3.3B |
| P/E (trailing) | – | 22.6 |
| Dividend yield | 0.00% | 1.86% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | APYX | SHOO |
|---|---|---|
| 2022 | -81.7% | -29.5% |
| 2023 | +12.0% | +34.6% |
| 2024 | -39.7% | +3.2% |
| 2025 | +121.5% | +0.6% |
| 2026 | -14.3% | +8.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are APYX and SHOO good diversifiers for each other?
Reasonably. At 0.37, APYX and SHOO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between APYX and SHOO?
The APYX/SHOO correlation stands at 0.37 on a 3-year window (1 year: 0.27, 5 years: 0.25), computed from weekly returns as of 2026-08-27.
Is SHOO a good diversifier for APYX?
Reasonably. At 0.37, APYX and SHOO keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/apyx-vs-shoo.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/apyx-vs-shoo/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: APYX correlations · SHOO correlations
