HRTX vs MSLE: Correlation
How closely do Heron Therapeutics, Inc. (HRTX) and Satellos Bioscience Inc. (MSLE) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRTX and MSLE?
Over the past 3 years, HRTX and MSLE moved with a correlation of 0.32, which is moderate. Little has changed lately, as the 1-year reading of 0.33 lands near the 3-year figure. Over 5 years the correlation is 0.11, and the annualized covariance of weekly returns is 2542.1 %².
Within HRTX's tracked universe of 12 assets, MSLE comes in at #7 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months MSLE outperformed by 157.6 percentage points (-75.6% for HRTX against +82.0% for MSLE).
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.
HRTX vs MSLE: side by side
| HRTX (Heron Therapeutics, Inc.) | MSLE (Satellos Bioscience Inc.) | |
|---|---|---|
| 1-year return | -75.6% | +82.0% |
| 5-year return | -97.1% | -36.4% |
| Volatility (ann.) | 99.0% | 80.3% |
| Beta vs S&P 500 | 1.84 | 0.86 |
| Max drawdown (3Y) | -92.2% | -57.0% |
| Market cap | $0.1B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRTX | MSLE |
|---|---|---|
| 2022 | -72.6% | -78.8% |
| 2023 | -32.0% | +89.0% |
| 2024 | -10.0% | +81.5% |
| 2025 | -15.0% | -16.9% |
| 2026 | -74.5% | +63.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRTX and MSLE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between HRTX and MSLE?
The HRTX/MSLE correlation stands at 0.32 on a 3-year window (1 year: 0.33, 5 years: 0.11), computed from weekly returns as of 2026-08-27.
Is MSLE a good diversifier for HRTX?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/hrtx-vs-msle.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/hrtx-vs-msle/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HRTX correlations · MSLE correlations
