COYA vs SYRE: Correlation
How closely do Coya Therapeutics, Inc. (COYA) and Spyre Therapeutics, Inc. (SYRE) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are COYA and SYRE?
Across a 3-year window, the weekly returns of COYA and SYRE correlate at 0.41, moderate. The link has loosened recently: the 1-year correlation (0.23) runs below the 3-year figure (0.41). Stretching to 5 years gives 0.21, with an annualized covariance of 2280.6 %².
SYRE is one of the assets that tracks COYA most closely: it ranks #2 out of the 12 assets we track against COYA. Their recent paths diverged sharply: over the last 12 months SYRE outperformed by 472.1 percentage points (-25.9% for COYA against +446.2% for SYRE).
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.
COYA vs SYRE: side by side
| COYA (Coya Therapeutics, Inc.) | SYRE (Spyre Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -25.9% | +446.2% |
| 5-year return | n/a | -47.5% |
| Volatility (ann.) | 66.2% | 83.8% |
| Beta vs S&P 500 | 1.33 | 1.80 |
| Max drawdown (3Y) | -62.9% | -74.0% |
| Market cap | $0.1B | $8.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | COYA | SYRE |
|---|---|---|
| 2022 | – | -90.5% |
| 2023 | +56.4% | +91.3% |
| 2024 | -22.7% | +8.2% |
| 2025 | +1.2% | +40.7% |
| 2026 | -16.2% | +185.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are COYA and SYRE good diversifiers for each other?
Reasonably. At 0.41, COYA and SYRE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between COYA and SYRE?
As of 2026-08-27, the correlation of weekly returns between COYA and SYRE is 0.41 over 3 years, 0.23 over 1 year and 0.21 over 5 years.
Is SYRE a good diversifier for COYA?
Reasonably. At 0.41, COYA and SYRE keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
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.
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Related comparisons
Hubs: COYA correlations · SYRE correlations
