DNLI vs RARE: Correlation
How closely do Denali Therapeutics Inc. (DNLI) and Ultragenyx Pharmaceutical Inc. (RARE) trade together? Their weekly returns over three years give a correlation of 0.55, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DNLI and RARE?
On 3 years of weekly data the DNLI/RARE correlation comes out at 0.55, moderate. The link has tightened recently: the 1-year correlation (0.66) runs above the 3-year figure (0.55). The 5-year figure is 0.52, and annualized covariance runs at 1713.4 %².
By 3-year correlation, RARE places #7 of the 25 assets tracked against DNLI. Correlation aside, the last 12 months split them widely, with DNLI ahead by 70.8 points (+58.1% versus -12.7%).
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.
DNLI vs RARE: side by side
| DNLI (Denali Therapeutics Inc.) | RARE (Ultragenyx Pharmaceutical Inc.) | |
|---|---|---|
| 1-year return | +58.1% | -12.7% |
| 5-year return | -53.4% | -72.6% |
| Volatility (ann.) | 60.6% | 51.1% |
| Beta vs S&P 500 | 2.02 | 1.38 |
| Max drawdown (3Y) | -63.7% | -68.8% |
| Market cap | $3.9B | $2.6B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DNLI | RARE |
|---|---|---|
| 2022 | -37.6% | -44.9% |
| 2023 | -22.8% | +3.2% |
| 2024 | -5.0% | -12.0% |
| 2025 | -19.0% | -45.3% |
| 2026 | +49.4% | +14.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DNLI and RARE good diversifiers for each other?
Only partially. A correlation of 0.55 means DNLI and RARE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between DNLI and RARE?
The DNLI/RARE correlation stands at 0.55 on a 3-year window (1 year: 0.66, 5 years: 0.52), computed from weekly returns as of 2026-08-27.
Is RARE a good diversifier for DNLI?
Only partially. A correlation of 0.55 means DNLI and RARE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.55 mean?
On the −1 to +1 scale, 0.55 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/dnli-vs-rare.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/dnli-vs-rare/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: DNLI correlations · RARE correlations
