BTAI vs TNDM: Correlation
BioXcel Therapeutics, Inc. (BTAI) and Tandem Diabetes Care, Inc. (TNDM) show a negative relationship: their 3-year correlation of weekly returns is -0.20.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTAI and TNDM?
Across a 3-year window, the weekly returns of BTAI and TNDM correlate at -0.20, negative, meaning they tend to move in opposite directions. The past 12 months show a tighter link (0.14) than the 3-year average (-0.20). Stretching to 5 years gives -0.12, with an annualized covariance of -2351.0 %².
TNDM is close to the least connected end of BTAI's tracked universe, ranking #9 of 11. The last year tells two different stories: TNDM led by 156.5 percentage points, -81.8% for BTAI against +74.7% for TNDM. One caveat on sizing: BTAI is 2.3 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
BTAI vs TNDM: side by side
| BTAI (BioXcel Therapeutics, Inc.) | TNDM (Tandem Diabetes Care, Inc.) | |
|---|---|---|
| 1-year return | -81.8% | +74.7% |
| 5-year return | -99.8% | -80.9% |
| Volatility (ann.) | 162.0% | 71.1% |
| Beta vs S&P 500 | 2.19 | 0.84 |
| Max drawdown (3Y) | -99.2% | -81.1% |
| Market cap | – | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTAI | TNDM |
|---|---|---|
| 2022 | +5.7% | -70.1% |
| 2023 | -86.3% | -34.2% |
| 2024 | -87.3% | +21.8% |
| 2025 | -73.3% | -39.0% |
| 2026 | -55.1% | -2.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTAI and TNDM good diversifiers for each other?
Yes. With a correlation of -0.20, BTAI and TNDM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between BTAI and TNDM?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with 0.14 over the last year and -0.12 over 5 years.
Is TNDM a good diversifier for BTAI?
Yes. With a correlation of -0.20, BTAI and TNDM have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.20 mean?
On the −1 to +1 scale, -0.20 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/btai-vs-tndm.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/btai-vs-tndm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: BTAI correlations · TNDM correlations
