ARVN vs HRTX: Correlation
How closely do Arvinas, Inc. (ARVN) and Heron Therapeutics, Inc. (HRTX) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ARVN and HRTX?
Across a 3-year window, the weekly returns of ARVN and HRTX correlate at 0.43, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.43 over 3. Stretching to 5 years gives 0.42, with an annualized covariance of 3139.8 %².
Within ARVN's tracked universe of 18 assets, HRTX comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months ARVN outperformed by 90.0 percentage points (+14.4% for ARVN against -75.6% for HRTX).
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.
ARVN vs HRTX: side by side
| ARVN (Arvinas, Inc.) | HRTX (Heron Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +14.4% | -75.6% |
| 5-year return | -89.2% | -97.1% |
| Volatility (ann.) | 73.6% | 99.0% |
| Beta vs S&P 500 | 1.55 | 1.84 |
| Max drawdown (3Y) | -88.4% | -92.2% |
| Market cap | $0.6B | $0.1B |
| P/E (trailing) | 35.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ARVN | HRTX |
|---|---|---|
| 2022 | -58.4% | -72.6% |
| 2023 | +20.3% | -32.0% |
| 2024 | -53.4% | -10.0% |
| 2025 | -38.1% | -15.0% |
| 2026 | -22.1% | -74.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ARVN and HRTX good diversifiers for each other?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ARVN and HRTX?
Using weekly returns as of 2026-08-27: 0.43 over 3 years, with 0.41 over the last year and 0.42 over 5 years.
Is HRTX a good diversifier for ARVN?
A fair diversifier. At 0.43, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.43 mean?
On the −1 to +1 scale, 0.43 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/arvn-vs-hrtx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/arvn-vs-hrtx/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: ARVN correlations · HRTX correlations
