EIG vs VNDA: Correlation
Measured on weekly returns over the past three years, Employers Holdings Inc (EIG) and Vanda Pharmaceuticals Inc. (VNDA) carry a correlation of 0.38, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EIG and VNDA?
Across a 3-year window, the weekly returns of EIG and VNDA correlate at 0.38, moderate. Recent behaviour matches the longer record: 0.39 over 1 year against 0.38 over 3. Stretching to 5 years gives 0.31, with an annualized covariance of 552.5 %².
By 3-year correlation, VNDA places #13 of the 19 assets tracked against EIG. Twelve-month performance is nearly a tie, at +16.7% for EIG and +17.7% for VNDA. Note the risk asymmetry: VNDA runs 2.8 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.
EIG vs VNDA: side by side
| EIG (Employers Holdings Inc) | VNDA (Vanda Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | +16.7% | +17.7% |
| 5-year return | +43.2% | -67.8% |
| Volatility (ann.) | 22.8% | 63.1% |
| Beta vs S&P 500 | 0.32 | 0.55 |
| Max drawdown (3Y) | -31.3% | -48.4% |
| Market cap | $0.9B | $0.3B |
| P/E (trailing) | 62.1 | – |
| Dividend yield | 2.64% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EIG | VNDA |
|---|---|---|
| 2022 | +12.6% | -52.9% |
| 2023 | -6.1% | -42.9% |
| 2024 | +33.4% | +13.5% |
| 2025 | -13.3% | +84.1% |
| 2026 | +16.2% | -38.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EIG and VNDA good diversifiers for each other?
Reasonably. At 0.38, EIG and VNDA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between EIG and VNDA?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.39 over the last year and 0.31 over 5 years.
Is VNDA a good diversifier for EIG?
Reasonably. At 0.38, EIG and VNDA keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
On the −1 to +1 scale, 0.38 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/eig-vs-vnda.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/eig-vs-vnda/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EIG correlations · VNDA correlations
