BMY vs PVLA: Correlation
Measured on weekly returns over the past three years, Bristol Myers Squibb (BMY) and Palvella Therapeutics, Inc. (PVLA) carry a correlation of 0.41, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BMY and PVLA?
Over the past 3 years, BMY and PVLA moved with a correlation of 0.41, which is moderate. The past 12 months show a weaker link (0.22) than the 3-year average (0.41). Over 5 years the correlation is 0.34, and the annualized covariance of weekly returns is 1187.6 %².
By 3-year correlation, PVLA places #11 of the 31 assets tracked against BMY. The last year tells two different stories: PVLA led by 119.0 percentage points, +47.3% for BMY against +166.3% for PVLA. Risk is not evenly split, since PVLA carries 3.8 times the volatility of the other side.
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.
BMY vs PVLA: side by side
| BMY (Bristol Myers Squibb) | PVLA (Palvella Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +47.3% | +166.3% |
| 5-year return | +22.3% | -62.3% |
| Volatility (ann.) | 27.8% | 105.3% |
| Beta vs S&P 500 | 0.20 | 0.24 |
| Max drawdown (3Y) | -34.1% | -77.6% |
| Market cap | $136.8B | $2.2B |
| P/E (trailing) | 14.9 | – |
| Dividend yield | 3.71% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | BMY | PVLA |
|---|---|---|
| 2022 | +19.0% | -72.5% |
| 2023 | -26.1% | -82.5% |
| 2024 | +15.8% | -17.6% |
| 2025 | +0.1% | +772.2% |
| 2026 | +28.3% | +43.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BMY and PVLA good diversifiers for each other?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between BMY and PVLA?
Using weekly returns as of 2026-08-27: 0.41 over 3 years, with 0.22 over the last year and 0.34 over 5 years.
Is PVLA a good diversifier for BMY?
A fair diversifier. At 0.41, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.41 mean?
A reading of 0.41 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/bmy-vs-pvla.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/bmy-vs-pvla/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: BMY correlations · PVLA correlations
