AXSM vs WAL: Correlation
Axsome Therapeutics, Inc. (AXSM) and Western Alliance Bancorporation (WAL) 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 WAL?
On 3 years of weekly data the AXSM/WAL correlation comes out at 0.40, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.26 versus 0.40 over 3 years. The 5-year figure is 0.11, and annualized covariance runs at 622.8 %².
By 3-year correlation, WAL places #5 of the 12 assets tracked against AXSM. The last year tells two different stories: AXSM led by 78.6 percentage points, +69.3% for AXSM against -9.3% for WAL.
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 WAL: side by side
| AXSM (Axsome Therapeutics, Inc.) | WAL (Western Alliance Bancorporation) | |
|---|---|---|
| 1-year return | +69.3% | -9.3% |
| 5-year return | +746.1% | -9.7% |
| Volatility (ann.) | 39.4% | 39.5% |
| Beta vs S&P 500 | 0.82 | 1.51 |
| Max drawdown (3Y) | -32.7% | -36.0% |
| Market cap | $10.8B | $8.6B |
| P/E (trailing) | – | 9.0 |
| Dividend yield | 0.00% | 2.06% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | AXSM | WAL |
|---|---|---|
| 2022 | +104.2% | -43.7% |
| 2023 | +3.2% | +14.1% |
| 2024 | +6.3% | +29.7% |
| 2025 | +115.9% | +2.5% |
| 2026 | +12.9% | -4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are AXSM and WAL good diversifiers for each other?
Reasonably. At 0.40, AXSM and WAL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between AXSM and WAL?
The AXSM/WAL correlation stands at 0.40 on a 3-year window (1 year: 0.26, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is WAL a good diversifier for AXSM?
Reasonably. At 0.40, AXSM and WAL keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.40 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/axsm-vs-wal.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/axsm-vs-wal/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: AXSM correlations · WAL correlations
