ARDX vs XERS: Correlation
How closely do Ardelyx, Inc. (ARDX) and Xeris Biopharma Holdings, Inc. (XERS) trade together? Their weekly returns over three years give a correlation of 0.40, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARDX and XERS?
On 3 years of weekly data the ARDX/XERS correlation comes out at 0.40, moderate. The link has loosened recently: the 1-year correlation (0.29) runs below the 3-year figure (0.40). The 5-year figure is 0.24, and annualized covariance runs at 1638.5 %².
In ARDX's tracked universe of 11 assets, XERS sits right near the top at #2. The last year tells two different stories: XERS led by 45.9 percentage points, -38.3% for ARDX against +7.6% for XERS.
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 XERS: side by side
| ARDX (Ardelyx, Inc.) | XERS (Xeris Biopharma Holdings, Inc.) | |
|---|---|---|
| 1-year return | -38.3% | +7.6% |
| 5-year return | +165.3% | +212.7% |
| Volatility (ann.) | 70.9% | 58.5% |
| Beta vs S&P 500 | 1.03 | 1.29 |
| Max drawdown (3Y) | -66.3% | -47.2% |
| Market cap | $1.0B | $1.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARDX | XERS |
|---|---|---|
| 2022 | +159.1% | -54.6% |
| 2023 | +117.5% | +76.7% |
| 2024 | -18.2% | +44.3% |
| 2025 | +15.0% | +131.6% |
| 2026 | -34.5% | +9.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARDX and XERS good diversifiers for each other?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARDX and XERS?
Using weekly returns as of 2026-08-27: 0.40 over 3 years, with 0.29 over the last year and 0.24 over 5 years.
Is XERS a good diversifier for ARDX?
A fair diversifier. At 0.40, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ardx-vs-xers.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ardx-vs-xers/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ARDX correlations · XERS correlations
