BTAI vs VREX: Correlation
How closely do BioXcel Therapeutics, Inc. (BTAI) and Varex Imaging Corporation (VREX) trade together? Their weekly returns over three years give a correlation of 0.44, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are BTAI and VREX?
On 3 years of weekly data the BTAI/VREX correlation comes out at 0.44, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.32 versus 0.44 over 3 years. The 5-year figure is 0.38, and annualized covariance runs at 4178.8 %².
Within BTAI's tracked universe of 11 assets, VREX comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with VREX ahead by 143.3 points (-81.8% versus +61.5%). One caveat on sizing: BTAI is 2.8 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 VREX: side by side
| BTAI (BioXcel Therapeutics, Inc.) | VREX (Varex Imaging Corporation) | |
|---|---|---|
| 1-year return | -81.8% | +61.5% |
| 5-year return | -99.8% | -36.0% |
| Volatility (ann.) | 162.0% | 58.7% |
| Beta vs S&P 500 | 2.19 | 1.91 |
| Max drawdown (3Y) | -99.2% | -67.8% |
| Market cap | – | $0.8B |
| P/E (trailing) | – | 34.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | BTAI | VREX |
|---|---|---|
| 2022 | +5.7% | -35.7% |
| 2023 | -86.3% | +1.0% |
| 2024 | -87.3% | -28.8% |
| 2025 | -73.3% | -20.2% |
| 2026 | -55.1% | +58.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are BTAI and VREX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between BTAI and VREX?
Using weekly returns as of 2026-08-27: 0.44 over 3 years, with 0.32 over the last year and 0.38 over 5 years.
Is VREX a good diversifier for BTAI?
Yes, to a useful degree: a correlation of 0.44 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.44 mean?
On the −1 to +1 scale, 0.44 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
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Related comparisons
Hubs: BTAI correlations · VREX correlations
