BMRN vs LONA: Correlation
BioMarin Pharmaceutical Inc. (BMRN) and LeonaBio, Inc. (LONA) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMRN and LONA?
On 3 years of weekly data the BMRN/LONA correlation comes out at 0.37, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. The 5-year figure is 0.26, and annualized covariance runs at 1084.7 %².
By 3-year correlation, LONA places #6 of the 12 assets tracked against BMRN. Their recent paths diverged sharply: over the last 12 months LONA outperformed by 85.9 percentage points (+11.3% for BMRN against +97.2% for LONA). Note the risk asymmetry: LONA runs 3.7 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.
BMRN vs LONA: side by side
| BMRN (BioMarin Pharmaceutical Inc.) | LONA (LeonaBio, Inc.) | |
|---|---|---|
| 1-year return | +11.3% | +97.2% |
| 5-year return | -21.6% | -92.6% |
| Volatility (ann.) | 28.1% | 104.6% |
| Beta vs S&P 500 | 0.46 | 1.80 |
| Max drawdown (3Y) | -49.8% | -94.5% |
| Market cap | $12.6B | $0.1B |
| P/E (trailing) | 176.5 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BMRN | LONA |
|---|---|---|
| 2022 | +17.1% | -75.7% |
| 2023 | -6.8% | -23.3% |
| 2024 | -31.8% | -75.8% |
| 2025 | -9.6% | +29.0% |
| 2026 | +9.9% | +4.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMRN and LONA good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BMRN and LONA?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.41 over the last year and 0.26 over 5 years.
Is LONA a good diversifier for BMRN?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/bmrn-vs-lona.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmrn-vs-lona/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BMRN correlations · LONA correlations
