EDSA vs RLYB: Correlation
Edesa Biotech, Inc. (EDSA) and Rallybio Corporation (RLYB) 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 EDSA and RLYB?
Over the past 3 years, EDSA and RLYB moved with a correlation of 0.39, which is moderate. The link has tightened recently: the 1-year correlation (0.59) runs above the 3-year figure (0.39). Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 7276.0 %².
By 3-year correlation, RLYB places #10 of the 30 assets tracked against EDSA. Their recent paths diverged sharply: over the last 12 months RLYB outperformed by 163.4 percentage points (+91.7% for EDSA against +255.1% for RLYB). One caveat on sizing: EDSA is 1.9 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.
EDSA vs RLYB: side by side
| EDSA (Edesa Biotech, Inc.) | RLYB (Rallybio Corporation) | |
|---|---|---|
| 1-year return | +91.7% | +255.1% |
| 5-year return | -87.4% | -83.7% |
| Volatility (ann.) | 190.4% | 99.0% |
| Beta vs S&P 500 | -0.03 | 0.78 |
| Max drawdown (3Y) | -87.3% | -95.5% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | 2.1 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EDSA | RLYB |
|---|---|---|
| 2022 | -61.6% | -31.1% |
| 2023 | -69.8% | -63.6% |
| 2024 | -63.2% | -59.8% |
| 2025 | -15.5% | -28.5% |
| 2026 | +223.9% | +205.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EDSA and RLYB good diversifiers for each other?
Reasonably. At 0.39, EDSA and RLYB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EDSA and RLYB?
The EDSA/RLYB correlation stands at 0.39 on a 3-year window (1 year: 0.59, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is RLYB a good diversifier for EDSA?
Reasonably. At 0.39, EDSA and RLYB keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/edsa-vs-rlyb.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/edsa-vs-rlyb/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EDSA correlations · RLYB correlations
