AVXL vs RMT: Correlation
Measured on weekly returns over the past three years, Anavex Life Sciences Corp. (AVXL) and Royce Micro-Cap Trust, Inc. (RMT) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AVXL and RMT?
On 3 years of weekly data the AVXL/RMT correlation comes out at 0.46, moderate. Recent behaviour matches the longer record: 0.41 over 1 year against 0.46 over 3. The 5-year figure is 0.44, and annualized covariance runs at 787.5 %².
Within AVXL's tracked universe of 11 assets, RMT comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with RMT ahead by 115.3 points (-66.9% versus +48.4%). Note the risk asymmetry: AVXL runs 4.1 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.
AVXL vs RMT: side by side
| AVXL (Anavex Life Sciences Corp.) | RMT (Royce Micro-Cap Trust, Inc.) | |
|---|---|---|
| 1-year return | -66.9% | +48.4% |
| 5-year return | -83.1% | +80.1% |
| Volatility (ann.) | 84.1% | 20.5% |
| Beta vs S&P 500 | 2.04 | 1.09 |
| Max drawdown (3Y) | -82.6% | -26.4% |
| Market cap | $0.3B | $0.8B |
| P/E (trailing) | – | 8.5 |
| Dividend yield | 0.00% | 5.57% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AVXL | RMT |
|---|---|---|
| 2022 | -46.6% | -16.8% |
| 2023 | +0.5% | +15.8% |
| 2024 | +15.4% | +14.0% |
| 2025 | -66.9% | +16.1% |
| 2026 | -12.1% | +39.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AVXL and RMT good diversifiers for each other?
Reasonably. At 0.46, AVXL and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AVXL and RMT?
The AVXL/RMT correlation stands at 0.46 on a 3-year window (1 year: 0.41, 5 years: 0.44), computed from weekly returns as of 2026-08-27.
Is RMT a good diversifier for AVXL?
Reasonably. At 0.46, AVXL and RMT keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 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: AVXL correlations · RMT correlations
