DRMA vs HIW: Correlation
Dermata Therapeutics, Inc. (DRMA) and Highwoods Properties, Inc. (HIW) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are DRMA and HIW?
On 3 years of weekly data the DRMA/HIW correlation comes out at 0.39, moderate. The relationship has been stable: the 1-year correlation (0.36) sits close to the 3-year figure. The 5-year figure is 0.22, and annualized covariance runs at 1052.9 %².
By 3-year correlation, HIW places #4 of the 13 assets tracked against DRMA. Their recent paths diverged sharply: over the last 12 months HIW outperformed by 82.2 percentage points (-72.4% for DRMA against +9.8% for HIW). One caveat on sizing: DRMA is 3.0 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
DRMA vs HIW: side by side
| DRMA (Dermata Therapeutics, Inc.) | HIW (Highwoods Properties, Inc.) | |
|---|---|---|
| 1-year return | -72.4% | +9.8% |
| 5-year return | -100.0% | -1.6% |
| Volatility (ann.) | 90.1% | 29.8% |
| Beta vs S&P 500 | 1.23 | 0.83 |
| Max drawdown (3Y) | -99.4% | -37.1% |
| Market cap | – | $3.5B |
| P/E (trailing) | – | 20.9 |
| Dividend yield | 0.00% | 6.35% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | DRMA | HIW |
|---|---|---|
| 2022 | -76.5% | -33.6% |
| 2023 | -90.7% | -10.1% |
| 2024 | -85.2% | +43.1% |
| 2025 | -82.8% | -9.6% |
| 2026 | -37.1% | +28.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are DRMA and HIW good diversifiers for each other?
Reasonably. At 0.39, DRMA and HIW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between DRMA and HIW?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.36 over the last year and 0.22 over 5 years.
Is HIW a good diversifier for DRMA?
Reasonably. At 0.39, DRMA and HIW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/drma-vs-hiw.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/drma-vs-hiw/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: DRMA correlations · HIW correlations
