DMRA vs IRWD: Correlation
Damora Therapeutics, Inc. (DMRA) and Ironwood Pharmaceuticals, Inc. (IRWD) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DMRA and IRWD?
Over the past 3 years, DMRA and IRWD moved with a correlation of 0.37, which is moderate. Lately the two have moved closer together, with the 1-year correlation at 0.54 versus 0.37 over 3 years. Over 5 years the correlation is 0.36, and the annualized covariance of weekly returns is 9984.6 %².
By 3-year correlation, IRWD places #6 of the 16 assets tracked against DMRA. The last year tells two different stories: DMRA led by 574.2 percentage points, +810.7% for DMRA against +236.5% for IRWD. Note the risk asymmetry: DMRA runs 3.5 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.
DMRA vs IRWD: side by side
| DMRA (Damora Therapeutics, Inc.) | IRWD (Ironwood Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +810.7% | +236.5% |
| 5-year return | -72.2% | -68.1% |
| Volatility (ann.) | 304.9% | 88.3% |
| Beta vs S&P 500 | 0.22 | 0.81 |
| Max drawdown (3Y) | -90.0% | -96.3% |
| Market cap | $1.9B | $0.7B |
| P/E (trailing) | – | 5.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DMRA | IRWD |
|---|---|---|
| 2022 | -62.0% | +6.3% |
| 2023 | -37.4% | -7.7% |
| 2024 | -74.2% | -61.3% |
| 2025 | +394.8% | -23.9% |
| 2026 | +33.0% | +25.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DMRA and IRWD good diversifiers for each other?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between DMRA and IRWD?
The DMRA/IRWD correlation stands at 0.37 on a 3-year window (1 year: 0.54, 5 years: 0.36), computed from weekly returns as of 2026-08-27.
Is IRWD a good diversifier for DMRA?
A fair diversifier. At 0.37, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/dmra-vs-irwd.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/dmra-vs-irwd/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DMRA correlations · IRWD correlations
