EW vs PVLA: Correlation
Edwards Lifesciences (EW) and Palvella Therapeutics, Inc. (PVLA) show a negative relationship: their 3-year correlation of weekly returns is -0.21.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are EW and PVLA?
Over the past 3 years, EW and PVLA moved with a correlation of -0.21, which is negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.41) runs above the 3-year figure (-0.21). Over 5 years the correlation is -0.05, and the annualized covariance of weekly returns is -707.2 %².
Among the 30 assets we track against EW, PVLA ranks #21 by 3-year correlation. The last year tells two different stories: PVLA led by 155.1 percentage points, +11.2% for EW against +166.3% for PVLA. Risk is not evenly split, since PVLA carries 3.3 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.
EW vs PVLA: side by side
| EW (Edwards Lifesciences) | PVLA (Palvella Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +11.2% | +166.3% |
| 5-year return | -23.8% | -62.3% |
| Volatility (ann.) | 31.6% | 105.3% |
| Beta vs S&P 500 | 0.81 | 0.24 |
| Max drawdown (3Y) | -37.5% | -77.6% |
| Market cap | $51.8B | $2.2B |
| P/E (trailing) | 54.2 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | Health Care | US Listed |
Year-by-year returns
| Year | EW | PVLA |
|---|---|---|
| 2022 | -42.4% | -72.5% |
| 2023 | +2.2% | -82.5% |
| 2024 | -2.9% | -17.6% |
| 2025 | +15.2% | +772.2% |
| 2026 | +5.5% | +43.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are EW and PVLA good diversifiers for each other?
Yes. With a correlation of -0.21, EW and PVLA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between EW and PVLA?
Using weekly returns as of 2026-08-27: -0.21 over 3 years, with 0.41 over the last year and -0.05 over 5 years.
Is PVLA a good diversifier for EW?
Yes. With a correlation of -0.21, EW and PVLA have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.21 mean?
A reading of -0.21 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
$ curl https://www.pairbook.io/api/v1/pairs/ew-vs-pvla.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ew-vs-pvla/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: EW correlations · PVLA correlations
