ARDT vs DMRA: Correlation
Ardent Health, Inc. (ARDT) and Damora Therapeutics, Inc. (DMRA) show a negative relationship: their 3-year correlation of weekly returns is -0.42.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDT and DMRA?
Across a 3-year window, the weekly returns of ARDT and DMRA correlate at -0.42, negative, meaning they tend to move in opposite directions. The past 12 months show a weaker link (-0.59) than the 3-year average (-0.42). Stretching to 5 years gives n/a, with an annualized covariance of -7352.5 %².
DMRA is close to the least connected end of ARDT's tracked universe, ranking #21 of 22. Correlation aside, the last 12 months split them widely, with DMRA ahead by 824.2 points (-13.5% versus +810.7%). One caveat on sizing: DMRA is 6.3 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.
ARDT vs DMRA: side by side
| ARDT (Ardent Health, Inc.) | DMRA (Damora Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -13.5% | +810.7% |
| 5-year return | n/a | -72.2% |
| Volatility (ann.) | 48.5% | 304.9% |
| Beta vs S&P 500 | 0.65 | 0.22 |
| Max drawdown (3Y) | -61.2% | -90.0% |
| Market cap | $1.6B | $1.9B |
| P/E (trailing) | 20.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDT | DMRA |
|---|---|---|
| 2022 | – | -62.0% |
| 2023 | – | -37.4% |
| 2024 | – | -74.2% |
| 2025 | -48.3% | +394.8% |
| 2026 | +24.5% | +33.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDT and DMRA good diversifiers for each other?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between ARDT and DMRA?
Using weekly returns as of 2026-08-27: -0.42 over 3 years, with -0.59 over the last year and n/a over 5 years.
Is DMRA a good diversifier for ARDT?
Yes: at -0.42, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.42 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/ardt-vs-dmra.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ardt-vs-dmra/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARDT correlations · DMRA correlations
