AVXL vs BEAM: Correlation
How closely do Anavex Life Sciences Corp. (AVXL) and Beam Therapeutics Inc. (BEAM) 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 AVXL and BEAM?
Over the past 3 years, AVXL and BEAM moved with a correlation of 0.48, which is moderate. Recent behaviour matches the longer record: 0.46 over 1 year against 0.48 over 3. Over 5 years the correlation is 0.50, and the annualized covariance of weekly returns is 2925.5 %².
Within AVXL's tracked universe of 11 assets, BEAM comes in at #4 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months BEAM outperformed by 147.7 percentage points (-66.9% for AVXL against +80.8% for BEAM).
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.
AVXL vs BEAM: side by side
| AVXL (Anavex Life Sciences Corp.) | BEAM (Beam Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -66.9% | +80.8% |
| 5-year return | -83.1% | -71.5% |
| Volatility (ann.) | 84.1% | 72.6% |
| Beta vs S&P 500 | 2.04 | 2.39 |
| Max drawdown (3Y) | -82.6% | -67.7% |
| Market cap | $0.3B | $3.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVXL | BEAM |
|---|---|---|
| 2022 | -46.6% | -50.9% |
| 2023 | +0.5% | -30.4% |
| 2024 | +15.4% | -8.9% |
| 2025 | -66.9% | +11.8% |
| 2026 | -12.1% | +10.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVXL and BEAM good diversifiers for each other?
Reasonably. At 0.48, AVXL and BEAM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AVXL and BEAM?
Using weekly returns as of 2026-08-27: 0.48 over 3 years, with 0.46 over the last year and 0.50 over 5 years.
Is BEAM a good diversifier for AVXL?
Reasonably. At 0.48, AVXL and BEAM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.48 mean?
A reading of 0.48 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: AVXL correlations · BEAM correlations
