HRMY vs TPST: Correlation
Harmony Biosciences Holdings, Inc. (HRMY) and Tempest Therapeutics, Inc. (TPST) show a negative relationship: their 3-year correlation of weekly returns is -0.40.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRMY and TPST?
On 3 years of weekly data the HRMY/TPST correlation comes out at -0.40, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.06 versus -0.40 over 3 years. The 5-year figure is -0.32, and annualized covariance runs at -15181.2 %².
Among the 11 assets we track against HRMY, TPST sits near the bottom by co-movement, at rank #9. Correlation aside, the last 12 months split them widely, with HRMY ahead by 94.8 points (+4.8% versus -90.0%). Note the risk asymmetry: TPST runs 15.9 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.
HRMY vs TPST: side by side
| HRMY (Harmony Biosciences Holdings, Inc.) | TPST (Tempest Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | +4.8% | -90.0% |
| 5-year return | +7.6% | -99.4% |
| Volatility (ann.) | 49.1% | 782.8% |
| Beta vs S&P 500 | 1.31 | 1.97 |
| Max drawdown (3Y) | -50.8% | -99.3% |
| Market cap | $2.3B | – |
| P/E (trailing) | 12.8 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRMY | TPST |
|---|---|---|
| 2022 | +29.2% | -78.2% |
| 2023 | -41.4% | +282.6% |
| 2024 | +6.5% | -81.0% |
| 2025 | +8.7% | -73.6% |
| 2026 | +6.5% | -62.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRMY and TPST good diversifiers for each other?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between HRMY and TPST?
As of 2026-08-27, the correlation of weekly returns between HRMY and TPST is -0.40 over 3 years, 0.06 over 1 year and -0.32 over 5 years.
Is TPST a good diversifier for HRMY?
Yes: at -0.40, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.40 mean?
A reading of -0.40 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: HRMY correlations · TPST correlations
