AQST vs KRYS: Correlation
Measured on weekly returns over the past three years, Aquestive Therapeutics, Inc. (AQST) and Krystal Biotech, Inc. (KRYS) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AQST and KRYS?
Across a 3-year window, the weekly returns of AQST and KRYS correlate at 0.38, moderate. The past 12 months show a weaker link (-0.01) than the 3-year average (0.38). Stretching to 5 years gives 0.15, with an annualized covariance of 1671.9 %².
Among the 11 assets we track against AQST, KRYS ranks #4 by 3-year correlation. The last year tells two different stories: KRYS led by 108.1 percentage points, +34.0% for AQST against +142.1% for KRYS. Note the risk asymmetry: AQST runs 1.7 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.
AQST vs KRYS: side by side
| AQST (Aquestive Therapeutics, Inc.) | KRYS (Krystal Biotech, Inc.) | |
|---|---|---|
| 1-year return | +34.0% | +142.1% |
| 5-year return | +10.7% | +523.2% |
| Volatility (ann.) | 85.7% | 50.8% |
| Beta vs S&P 500 | 0.87 | 0.77 |
| Max drawdown (3Y) | -63.5% | -42.3% |
| Market cap | $0.6B | $10.6B |
| P/E (trailing) | – | 44.7 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AQST | KRYS |
|---|---|---|
| 2022 | -76.8% | +13.3% |
| 2023 | +123.9% | +56.6% |
| 2024 | +76.2% | +26.3% |
| 2025 | +81.5% | +57.4% |
| 2026 | -20.1% | +45.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQST and KRYS good diversifiers for each other?
Reasonably. At 0.38, AQST and KRYS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AQST and KRYS?
The AQST/KRYS correlation stands at 0.38 on a 3-year window (1 year: -0.01, 5 years: 0.15), computed from weekly returns as of 2026-08-27.
Is KRYS a good diversifier for AQST?
Reasonably. At 0.38, AQST and KRYS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/aqst-vs-krys.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/aqst-vs-krys/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AQST correlations · KRYS correlations
