EQS vs XENE: Correlation
Equus Total Return, Inc. (EQS) and Xenon Pharmaceuticals Inc. (XENE) show a weak relationship: their 3-year correlation of weekly returns is 0.26.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EQS and XENE?
Over the past 3 years, EQS and XENE moved with a correlation of 0.26, which is weak. Recent behaviour matches the longer record: 0.24 over 1 year against 0.26 over 3. Over 5 years the correlation is 0.08, and the annualized covariance of weekly returns is 540.0 %².
Among the 17 assets we track against EQS, XENE ranks #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with XENE ahead by 108.8 points (-49.5% versus +59.3%).
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 XENE: side by side
| EQS (Equus Total Return, Inc.) | XENE (Xenon Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | -49.5% | +59.3% |
| 5-year return | -58.6% | +266.2% |
| Volatility (ann.) | 47.4% | 44.0% |
| Beta vs S&P 500 | -0.16 | 0.83 |
| Max drawdown (3Y) | -58.6% | -43.6% |
| Market cap | – | $6.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | EQS | XENE |
|---|---|---|
| 2022 | -39.9% | +26.2% |
| 2023 | +1.4% | +16.8% |
| 2024 | -24.1% | -14.9% |
| 2025 | +28.2% | +14.3% |
| 2026 | -27.0% | +38.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EQS and XENE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between EQS and XENE?
Using weekly returns as of 2026-08-27: 0.26 over 3 years, with 0.24 over the last year and 0.08 over 5 years.
Is XENE a good diversifier for EQS?
Yes, to a useful degree: a correlation of 0.26 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.26 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-xene.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/eqs-vs-xene/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: EQS correlations · XENE correlations
