EQS vs PTHS: Correlation
Equus Total Return, Inc. (EQS) and Pelthos Therapeutics Inc. (PTHS) show a weak relationship: their 3-year correlation of weekly returns is 0.27.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQS and PTHS?
On 3 years of weekly data the EQS/PTHS correlation comes out at 0.27, weak. The past 12 months show a weaker link (0.13) than the 3-year average (0.27). The 5-year figure is n/a, and annualized covariance runs at 1732.8 %².
In EQS's tracked universe of 17 assets, PTHS sits right near the top at #2. Their recent paths diverged sharply: over the last 12 months PTHS outperformed by 54.9 percentage points (-49.5% for EQS against +5.4% for PTHS). One caveat on sizing: PTHS is 2.6 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.
EQS vs PTHS: side by side
| EQS (Equus Total Return, Inc.) | PTHS (Pelthos Therapeutics Inc.) | |
|---|---|---|
| 1-year return | -49.5% | +5.4% |
| 5-year return | -58.6% | n/a |
| Volatility (ann.) | 47.4% | 125.0% |
| Beta vs S&P 500 | -0.16 | 1.67 |
| Max drawdown (3Y) | -58.6% | -88.7% |
| Market cap | – | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQS | PTHS |
|---|---|---|
| 2022 | -39.9% | – |
| 2023 | +1.4% | – |
| 2024 | -24.1% | – |
| 2025 | +28.2% | +383.6% |
| 2026 | -27.0% | -19.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQS and PTHS good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between EQS and PTHS?
Using weekly returns as of 2026-08-27: 0.27 over 3 years, with 0.13 over the last year and n/a over 5 years.
Is PTHS a good diversifier for EQS?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 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/eqs-vs-pths.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/eqs-vs-pths/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EQS correlations · PTHS correlations
