BEAT vs WVE: Correlation
How closely do Heartbeam, Inc. (BEAT) and Wave Life Sciences, Inc. (WVE) trade together? Their weekly returns over three years give a correlation of 0.61, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BEAT and WVE?
On 3 years of weekly data the BEAT/WVE correlation comes out at 0.61, strong. The link has tightened recently: the 1-year correlation (0.82) runs above the 3-year figure (0.61). The 5-year figure is 0.43, and annualized covariance runs at 10537.4 %².
Few assets follow BEAT as closely as WVE, which ranks #3 of 16 tracked partners. The trailing year gives WVE the advantage: -58.8% versus -48.8%, a 10.0-point spread.
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.
BEAT vs WVE: side by side
| BEAT (Heartbeam, Inc.) | WVE (Wave Life Sciences, Inc.) | |
|---|---|---|
| 1-year return | -58.8% | -48.8% |
| 5-year return | -89.6% | -15.0% |
| Volatility (ann.) | 152.8% | 113.5% |
| Beta vs S&P 500 | 0.65 | 1.84 |
| Max drawdown (3Y) | -86.1% | -76.3% |
| Market cap | – | $1.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BEAT | WVE |
|---|---|---|
| 2022 | +58.4% | +122.9% |
| 2023 | -51.8% | -27.9% |
| 2024 | -2.1% | +145.0% |
| 2025 | +4.3% | +37.4% |
| 2026 | -79.8% | -69.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BEAT and WVE good diversifiers for each other?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between BEAT and WVE?
Using weekly returns as of 2026-08-27: 0.61 over 3 years, with 0.82 over the last year and 0.43 over 5 years.
Is WVE a good diversifier for BEAT?
To a limited degree. At 0.61 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.61 mean?
On the −1 to +1 scale, 0.61 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/beat-vs-wve.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/beat-vs-wve/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BEAT correlations · WVE correlations
