ESTA vs XRTX: Correlation
Establishment Labs Holdings Inc. (ESTA) and XORTX Therapeutics Inc. (XRTX) show a weak relationship: their 3-year correlation of weekly returns is 0.29.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ESTA and XRTX?
On 3 years of weekly data the ESTA/XRTX correlation comes out at 0.29, weak. The past 12 months show a weaker link (-0.03) than the 3-year average (0.29). The 5-year figure is 0.25, and annualized covariance runs at 2639.2 %².
Within ESTA's tracked universe of 12 assets, XRTX comes in at #7 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ESTA ahead by 107.6 points (+69.2% versus -38.4%). Risk is not evenly split, since XRTX carries 1.8 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.
ESTA vs XRTX: side by side
| ESTA (Establishment Labs Holdings Inc.) | XRTX (XORTX Therapeutics Inc.) | |
|---|---|---|
| 1-year return | +69.2% | -38.4% |
| 5-year return | -0.0% | -99.9% |
| Volatility (ann.) | 70.5% | 129.2% |
| Beta vs S&P 500 | 1.02 | 0.23 |
| Max drawdown (3Y) | -64.1% | -99.4% |
| Market cap | $2.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ESTA | XRTX |
|---|---|---|
| 2022 | -2.9% | -60.6% |
| 2023 | -60.6% | -96.5% |
| 2024 | +77.9% | -51.1% |
| 2025 | +58.2% | -50.3% |
| 2026 | -1.5% | -13.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ESTA and XRTX good diversifiers for each other?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between ESTA and XRTX?
As of 2026-08-27, the correlation of weekly returns between ESTA and XRTX is 0.29 over 3 years, -0.03 over 1 year and 0.25 over 5 years.
Is XRTX a good diversifier for ESTA?
A fair diversifier. At 0.29, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.29 mean?
On the −1 to +1 scale, 0.29 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/esta-vs-xrtx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/esta-vs-xrtx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: ESTA correlations · XRTX correlations
