CGTX vs OVID: Correlation
Measured on weekly returns over the past three years, Cognition Therapeutics, Inc. (CGTX) and Ovid Therapeutics Inc. (OVID) carry a correlation of 0.43, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CGTX and OVID?
Across a 3-year window, the weekly returns of CGTX and OVID correlate at 0.43, moderate. The link has loosened recently: the 1-year correlation (0.14) runs below the 3-year figure (0.43). Stretching to 5 years gives 0.37, with an annualized covariance of 5951.4 %².
OVID is one of the assets that tracks CGTX most closely: it ranks #2 out of the 11 assets we track against CGTX. Correlation aside, the last 12 months split them widely, with OVID ahead by 197.9 points (-65.4% versus +132.5%).
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.
CGTX vs OVID: side by side
| CGTX (Cognition Therapeutics, Inc.) | OVID (Ovid Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -65.4% | +132.5% |
| 5-year return | -91.7% | -16.5% |
| Volatility (ann.) | 134.0% | 103.3% |
| Beta vs S&P 500 | 2.37 | 2.01 |
| Max drawdown (3Y) | -90.9% | -93.7% |
| Market cap | $0.1B | $0.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | CGTX | OVID |
|---|---|---|
| 2022 | -66.8% | -42.1% |
| 2023 | -11.9% | +73.1% |
| 2024 | -62.1% | -71.0% |
| 2025 | +92.6% | +74.5% |
| 2026 | -21.5% | +79.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CGTX and OVID good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between CGTX and OVID?
The CGTX/OVID correlation stands at 0.43 on a 3-year window (1 year: 0.14, 5 years: 0.37), computed from weekly returns as of 2026-08-27.
Is OVID a good diversifier for CGTX?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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/cgtx-vs-ovid.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/cgtx-vs-ovid/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CGTX correlations · OVID correlations
