ETON vs MYFW: Correlation
Eton Pharmaceuticals, Inc. (ETON) and First Western Financial, Inc. (MYFW) show a moderate relationship: their 3-year correlation of weekly returns is 0.38.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are ETON and MYFW?
On 3 years of weekly data the ETON/MYFW correlation comes out at 0.38, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.21 versus 0.38 over 3 years. The 5-year figure is 0.29, and annualized covariance runs at 770.6 %².
MYFW is one of the assets that tracks ETON most closely: it ranks #1 out of the 10 assets we track against ETON. Correlation aside, the last 12 months split them widely, with ETON ahead by 229.6 points (+262.7% versus +33.1%). Note the risk asymmetry: ETON runs 1.7 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.
ETON vs MYFW: side by side
| ETON (Eton Pharmaceuticals, Inc.) | MYFW (First Western Financial, Inc.) | |
|---|---|---|
| 1-year return | +262.7% | +33.1% |
| 5-year return | +1112.2% | +13.7% |
| Volatility (ann.) | 58.4% | 34.7% |
| Beta vs S&P 500 | 0.89 | 1.08 |
| Max drawdown (3Y) | -45.6% | -37.4% |
| Market cap | $1.8B | $0.3B |
| P/E (trailing) | 160.7 | 16.5 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | ETON | MYFW |
|---|---|---|
| 2022 | -34.3% | -7.3% |
| 2023 | +55.3% | -29.6% |
| 2024 | +204.1% | -1.4% |
| 2025 | +27.0% | +37.1% |
| 2026 | +270.6% | +15.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are ETON and MYFW good diversifiers for each other?
Reasonably. At 0.38, ETON and MYFW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between ETON and MYFW?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.21 over the last year and 0.29 over 5 years.
Is MYFW a good diversifier for ETON?
Reasonably. At 0.38, ETON and MYFW keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: ETON correlations · MYFW correlations
