ARKK vs AVXL: Correlation
How closely do ARK Innovation ETF (ARKK) and Anavex Life Sciences Corp. (AVXL) trade together? Their weekly returns over three years give a correlation of 0.48, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARKK and AVXL?
Across a 3-year window, the weekly returns of ARKK and AVXL correlate at 0.48, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.48). Stretching to 5 years gives 0.51, with an annualized covariance of 1571.7 %².
Among the 122 assets we track against ARKK, AVXL ranks #77 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ARKK ahead by 82.6 points (+15.7% versus -66.9%). Note the risk asymmetry: AVXL runs 2.2 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.
ARKK vs AVXL: side by side
| ARKK (ARK Innovation ETF) | AVXL (Anavex Life Sciences Corp.) | |
|---|---|---|
| 1-year return | +15.7% | -66.9% |
| 5-year return | -27.7% | -83.1% |
| Volatility (ann.) | 38.8% | 84.1% |
| Beta vs S&P 500 | 2.07 | 2.04 |
| Max drawdown (3Y) | -39.6% | -82.6% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | – | 0.00% |
| Sector / category | ETF · Thematic | US Listed |
Year-by-year returns
| Year | ARKK | AVXL |
|---|---|---|
| 2022 | -67.0% | -46.6% |
| 2023 | +69.0% | +0.5% |
| 2024 | +8.4% | +15.4% |
| 2025 | +35.5% | -66.9% |
| 2026 | +13.6% | -12.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARKK and AVXL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between ARKK and AVXL?
The ARKK/AVXL correlation stands at 0.48 on a 3-year window (1 year: 0.66, 5 years: 0.51), computed from weekly returns as of 2026-08-27.
Is AVXL a good diversifier for ARKK?
Yes, to a useful degree: a correlation of 0.48 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.48 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.
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Related comparisons
Hubs: ARKK correlations · AVXL correlations
