ARDX vs LMAT: Correlation
Ardelyx, Inc. (ARDX) and LeMaitre Vascular, Inc. (LMAT) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDX and LMAT?
On 3 years of weekly data the ARDX/LMAT correlation comes out at 0.37, moderate. The past 12 months show a weaker link (0.26) than the 3-year average (0.37). The 5-year figure is 0.25, and annualized covariance runs at 928.0 %².
Within ARDX's tracked universe of 11 assets, LMAT comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months LMAT outperformed by 22.4 percentage points (-38.3% for ARDX against -15.9% for LMAT). Risk is not evenly split, since ARDX carries 2.0 times the volatility of the other side.
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.
ARDX vs LMAT: side by side
| ARDX (Ardelyx, Inc.) | LMAT (LeMaitre Vascular, Inc.) | |
|---|---|---|
| 1-year return | -38.3% | -15.9% |
| 5-year return | +165.3% | +47.2% |
| Volatility (ann.) | 70.9% | 35.0% |
| Beta vs S&P 500 | 1.03 | 0.57 |
| Max drawdown (3Y) | -66.3% | -32.5% |
| Market cap | $1.0B | $1.8B |
| P/E (trailing) | – | 27.9 |
| Dividend yield | 0.00% | 1.13% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDX | LMAT |
|---|---|---|
| 2022 | +159.1% | -7.4% |
| 2023 | +117.5% | +24.6% |
| 2024 | -18.2% | +63.6% |
| 2025 | +15.0% | -11.2% |
| 2026 | -34.5% | -1.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDX and LMAT good diversifiers for each other?
Reasonably. At 0.37, ARDX and LMAT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ARDX and LMAT?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.26 over the last year and 0.25 over 5 years.
Is LMAT a good diversifier for ARDX?
Reasonably. At 0.37, ARDX and LMAT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ARDX correlations · LMAT correlations
