AXSM vs ENTA: Correlation
Axsome Therapeutics, Inc. (AXSM) and Enanta Pharmaceuticals, Inc. (ENTA) show a moderate relationship: their 3-year correlation of weekly returns is 0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXSM and ENTA?
Over the past 3 years, AXSM and ENTA moved with a correlation of 0.40, which is moderate. The link has loosened recently: the 1-year correlation (0.07) runs below the 3-year figure (0.40). Over 5 years the correlation is 0.24, and the annualized covariance of weekly returns is 1112.6 %².
Within AXSM's tracked universe of 12 assets, ENTA comes in at #4 by 3-year correlation. On 12-month performance AXSM holds a 7.5-point edge, +69.3% against +61.8%. One caveat on sizing: ENTA is 1.8 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
AXSM vs ENTA: side by side
| AXSM (Axsome Therapeutics, Inc.) | ENTA (Enanta Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +69.3% | +61.8% |
| 5-year return | +746.1% | -75.7% |
| Volatility (ann.) | 39.4% | 70.9% |
| Beta vs S&P 500 | 0.82 | 1.57 |
| Max drawdown (3Y) | -32.7% | -75.6% |
| Market cap | $10.8B | $0.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXSM | ENTA |
|---|---|---|
| 2022 | +104.2% | -37.8% |
| 2023 | +3.2% | -79.8% |
| 2024 | +6.3% | -38.9% |
| 2025 | +115.9% | +174.3% |
| 2026 | +12.9% | -12.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXSM and ENTA good diversifiers for each other?
Reasonably. At 0.40, AXSM and ENTA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AXSM and ENTA?
As of 2026-08-27, the correlation of weekly returns between AXSM and ENTA is 0.40 over 3 years, 0.07 over 1 year and 0.24 over 5 years.
Is ENTA a good diversifier for AXSM?
Reasonably. At 0.40, AXSM and ENTA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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/axsm-vs-enta.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/axsm-vs-enta/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: AXSM correlations · ENTA correlations
