HRMY vs NERV: Correlation
Measured on weekly returns over the past three years, Harmony Biosciences Holdings, Inc. (HRMY) and Minerva Neurosciences, Inc (NERV) carry a correlation of 0.37, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRMY and NERV?
On 3 years of weekly data the HRMY/NERV correlation comes out at 0.37, moderate. Recent behaviour matches the longer record: 0.29 over 1 year against 0.37 over 3. The 5-year figure is 0.22, and annualized covariance runs at 1796.3 %².
NERV is close to the least connected end of HRMY's tracked universe, ranking #7 of 11. Their recent paths diverged sharply: over the last 12 months NERV outperformed by 111.7 percentage points (+4.8% for HRMY against +116.5% for NERV). One caveat on sizing: NERV is 2.0 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.
HRMY vs NERV: side by side
| HRMY (Harmony Biosciences Holdings, Inc.) | NERV (Minerva Neurosciences, Inc) | |
|---|---|---|
| 1-year return | +4.8% | +116.5% |
| 5-year return | +7.6% | -63.8% |
| Volatility (ann.) | 49.1% | 99.2% |
| Beta vs S&P 500 | 1.31 | 1.61 |
| Max drawdown (3Y) | -50.8% | -89.3% |
| Market cap | $2.3B | $0.2B |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRMY | NERV |
|---|---|---|
| 2022 | +29.2% | -75.2% |
| 2023 | -41.4% | +286.8% |
| 2024 | +6.5% | -63.9% |
| 2025 | +8.7% | +80.9% |
| 2026 | +6.5% | +27.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRMY and NERV good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HRMY and NERV?
As of 2026-08-27, the correlation of weekly returns between HRMY and NERV is 0.37 over 3 years, 0.29 over 1 year and 0.22 over 5 years.
Is NERV a good diversifier for HRMY?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
A reading of 0.37 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/hrmy-vs-nerv.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hrmy-vs-nerv/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HRMY correlations · NERV correlations
