COCH vs JANX: Correlation
How closely do Envoy Medical, Inc. (COCH) and Janux Therapeutics, Inc. (JANX) trade together? Their weekly returns over three years give a correlation of 0.71, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COCH and JANX?
On 3 years of weekly data the COCH/JANX correlation comes out at 0.71, strong. Lately the two have drifted apart, with the 1-year correlation at 0.20 versus 0.71 over 3 years. The 5-year figure is 0.64, and annualized covariance runs at 26963.4 %².
Few assets follow COCH as closely as JANX, which ranks #3 of 10 tracked partners. The last year tells two different stories: JANX led by 17.9 percentage points, -37.5% for COCH against -19.6% for JANX. Note the risk asymmetry: COCH runs 1.7 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.
COCH vs JANX: side by side
| COCH (Envoy Medical, Inc.) | JANX (Janux Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -37.5% | -19.6% |
| 5-year return | -92.4% | -42.6% |
| Volatility (ann.) | 256.3% | 148.0% |
| Beta vs S&P 500 | 0.52 | 1.76 |
| Max drawdown (3Y) | -96.3% | -81.8% |
| Market cap | $0.1B | $1.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COCH | JANX |
|---|---|---|
| 2022 | +2.9% | -33.2% |
| 2023 | -81.9% | -18.5% |
| 2024 | -21.0% | +399.0% |
| 2025 | -53.8% | -74.2% |
| 2026 | +10.6% | +36.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COCH and JANX good diversifiers for each other?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between COCH and JANX?
As of 2026-08-27, the correlation of weekly returns between COCH and JANX is 0.71 over 3 years, 0.20 over 1 year and 0.64 over 5 years.
Is JANX a good diversifier for COCH?
To a limited degree. At 0.71 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.71 mean?
On the −1 to +1 scale, 0.71 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/coch-vs-janx.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/coch-vs-janx/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: COCH correlations · JANX correlations
