AQST vs SYRE: Correlation
Measured on weekly returns over the past three years, Aquestive Therapeutics, Inc. (AQST) and Spyre Therapeutics, Inc. (SYRE) 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 AQST and SYRE?
On 3 years of weekly data the AQST/SYRE correlation comes out at 0.39, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.23 versus 0.39 over 3 years. The 5-year figure is 0.09, and annualized covariance runs at 2774.1 %².
In AQST's tracked universe of 11 assets, SYRE sits right near the top at #3. Their recent paths diverged sharply: over the last 12 months SYRE outperformed by 412.2 percentage points (+34.0% for AQST against +446.2% for SYRE).
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 SYRE: side by side
| AQST (Aquestive Therapeutics, Inc.) | SYRE (Spyre Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +34.0% | +446.2% |
| 5-year return | +10.7% | -47.5% |
| Volatility (ann.) | 85.7% | 83.8% |
| Beta vs S&P 500 | 0.87 | 1.80 |
| Max drawdown (3Y) | -63.5% | -74.0% |
| Market cap | $0.6B | $8.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AQST | SYRE |
|---|---|---|
| 2022 | -76.8% | -90.5% |
| 2023 | +123.9% | +91.3% |
| 2024 | +76.2% | +8.2% |
| 2025 | +81.5% | +40.7% |
| 2026 | -20.1% | +185.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AQST and SYRE good diversifiers for each other?
Reasonably. At 0.39, AQST and SYRE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AQST and SYRE?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.23 over the last year and 0.09 over 5 years.
Is SYRE a good diversifier for AQST?
Reasonably. At 0.39, AQST and SYRE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/aqst-vs-syre.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/aqst-vs-syre/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: AQST correlations · SYRE correlations
