EPM vs OLMA: Correlation
How closely do Evolution Petroleum Corporation, Inc. (EPM) and Olema Pharmaceuticals, Inc. (OLMA) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EPM and OLMA?
Over the past 3 years, EPM and OLMA moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.37) runs below the 3-year figure (-0.23). Over 5 years the correlation is -0.13, and the annualized covariance of weekly returns is -1037.1 %².
Among the 10 assets we track against EPM, OLMA sits near the bottom by co-movement, at rank #8. Correlation aside, the last 12 months split them widely, with OLMA ahead by 109.8 points (-21.8% versus +88.0%). Risk is not evenly split, since OLMA carries 3.9 times the volatility of the other side.
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.
EPM vs OLMA: side by side
| EPM (Evolution Petroleum Corporation, Inc.) | OLMA (Olema Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -21.8% | +88.0% |
| 5-year return | +28.8% | -64.1% |
| Volatility (ann.) | 34.3% | 133.2% |
| Beta vs S&P 500 | 0.50 | 1.18 |
| Max drawdown (3Y) | -55.2% | -82.1% |
| Market cap | $0.1B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 14.04% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EPM | OLMA |
|---|---|---|
| 2022 | +58.7% | -73.8% |
| 2023 | -17.3% | +472.7% |
| 2024 | -2.0% | -58.4% |
| 2025 | -25.2% | +328.8% |
| 2026 | +6.9% | -56.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EPM and OLMA good diversifiers for each other?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between EPM and OLMA?
Using weekly returns as of 2026-08-27: -0.23 over 3 years, with -0.37 over the last year and -0.13 over 5 years.
Is OLMA a good diversifier for EPM?
Yes: at -0.23, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
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[](https://www.pairbook.io/pair/epm-vs-olma/)
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Related comparisons
Hubs: EPM correlations · OLMA correlations
