HRTX vs PLAG: Correlation
Measured on weekly returns over the past three years, Heron Therapeutics, Inc. (HRTX) and Planet Green Holdings Corp. (PLAG) carry a correlation of -0.24, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are HRTX and PLAG?
On 3 years of weekly data the HRTX/PLAG correlation comes out at -0.24, negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.22) sits close to the 3-year figure. The 5-year figure is -0.16, and annualized covariance runs at -3861.1 %².
Among the 12 assets we track against HRTX, PLAG sits near the bottom by co-movement, at rank #12. Correlation aside, the last 12 months split them widely, with PLAG ahead by 16.5 points (-75.6% versus -59.1%). Note the risk asymmetry: PLAG runs 1.6 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.
HRTX vs PLAG: side by side
| HRTX (Heron Therapeutics, Inc.) | PLAG (Planet Green Holdings Corp.) | |
|---|---|---|
| 1-year return | -75.6% | -59.1% |
| 5-year return | -97.1% | -94.2% |
| Volatility (ann.) | 99.0% | 160.4% |
| Beta vs S&P 500 | 1.84 | -0.67 |
| Max drawdown (3Y) | -92.2% | -93.8% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | HRTX | PLAG |
|---|---|---|
| 2022 | -72.6% | -39.2% |
| 2023 | -32.0% | -21.0% |
| 2024 | -10.0% | -46.9% |
| 2025 | -15.0% | -15.8% |
| 2026 | -74.5% | -67.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are HRTX and PLAG good diversifiers for each other?
Yes. With a correlation of -0.24, HRTX and PLAG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between HRTX and PLAG?
The HRTX/PLAG correlation stands at -0.24 on a 3-year window (1 year: -0.22, 5 years: -0.16), computed from weekly returns as of 2026-08-27.
Is PLAG a good diversifier for HRTX?
Yes. With a correlation of -0.24, HRTX and PLAG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.24 mean?
A reading of -0.24 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/hrtx-vs-plag.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/hrtx-vs-plag/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: HRTX correlations · PLAG correlations
