AXSM vs IRDM: Correlation
How closely do Axsome Therapeutics, Inc. (AXSM) and Iridium Communications Inc (IRDM) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are AXSM and IRDM?
Over the past 3 years, AXSM and IRDM moved with a correlation of 0.37, which is moderate. The link has loosened recently: the 1-year correlation (0.21) runs below the 3-year figure (0.37). Over 5 years the correlation is 0.19, and the annualized covariance of weekly returns is 709.5 %².
Within AXSM's tracked universe of 12 assets, IRDM comes in at #6 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months IRDM outperformed by 26.1 percentage points (+69.3% for AXSM against +95.4% for IRDM).
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 IRDM: side by side
| AXSM (Axsome Therapeutics, Inc.) | IRDM (Iridium Communications Inc) | |
|---|---|---|
| 1-year return | +69.3% | +95.4% |
| 5-year return | +746.1% | +8.5% |
| Volatility (ann.) | 39.4% | 49.3% |
| Beta vs S&P 500 | 0.82 | 0.85 |
| Max drawdown (3Y) | -32.7% | -67.5% |
| Market cap | $10.8B | $5.0B |
| P/E (trailing) | – | 54.1 |
| Dividend yield | 0.00% | 1.27% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXSM | IRDM |
|---|---|---|
| 2022 | +104.2% | +24.5% |
| 2023 | +3.2% | -19.1% |
| 2024 | +6.3% | -28.1% |
| 2025 | +115.9% | -38.5% |
| 2026 | +12.9% | +176.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXSM and IRDM good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between AXSM and IRDM?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.21 over the last year and 0.19 over 5 years.
Is IRDM a good diversifier for AXSM?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 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: AXSM correlations · IRDM correlations
