DARE vs ELDN: Correlation
How closely do Dare Bioscience, Inc. (DARE) and Eledon Pharmaceuticals, Inc. (ELDN) trade together? Their weekly returns over three years give a correlation of 0.37, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DARE and ELDN?
On 3 years of weekly data the DARE/ELDN correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.42 over 1 year against 0.37 over 3. The 5-year figure is 0.34, and annualized covariance runs at 2921.8 %².
Within DARE's tracked universe of 11 assets, ELDN comes in at #6 by 3-year correlation. The last year tells two different stories: ELDN led by 92.1 percentage points, -63.4% for DARE against +28.7% for ELDN.
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.
DARE vs ELDN: side by side
| DARE (Dare Bioscience, Inc.) | ELDN (Eledon Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -63.4% | +28.7% |
| 5-year return | -96.5% | -58.7% |
| Volatility (ann.) | 94.9% | 82.7% |
| Beta vs S&P 500 | 1.76 | 1.13 |
| Max drawdown (3Y) | -91.3% | -73.8% |
| Market cap | – | $0.3B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DARE | ELDN |
|---|---|---|
| 2022 | -58.5% | -48.3% |
| 2023 | -62.8% | -21.1% |
| 2024 | -15.9% | +128.9% |
| 2025 | -38.1% | -63.3% |
| 2026 | -61.7% | +119.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DARE and ELDN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between DARE and ELDN?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.42 over the last year and 0.34 over 5 years.
Is ELDN a good diversifier for DARE?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/dare-vs-eldn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dare-vs-eldn/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DARE correlations · ELDN correlations
