INM vs VRAX: Correlation
Measured on weekly returns over the past three years, InMed Pharmaceuticals Inc. (INM) and Virax Biolabs Group Limited (VRAX) carry a correlation of 0.62, a strong link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are INM and VRAX?
Across a 3-year window, the weekly returns of INM and VRAX correlate at 0.62, strong. The relationship has been stable: the 1-year correlation (0.60) sits close to the 3-year figure. Stretching to 5 years gives 0.54, with an annualized covariance of 16659.4 %².
VRAX is one of the assets that tracks INM most closely: it ranks #1 out of the 18 assets we track against INM. Correlation aside, the last 12 months split them widely, with INM ahead by 43.8 points (-36.4% versus -80.2%).
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.
INM vs VRAX: side by side
| INM (InMed Pharmaceuticals Inc.) | VRAX (Virax Biolabs Group Limited) | |
|---|---|---|
| 1-year return | -36.4% | -80.2% |
| 5-year return | -99.9% | n/a |
| Volatility (ann.) | 169.8% | 158.1% |
| Beta vs S&P 500 | 2.62 | 2.55 |
| Max drawdown (3Y) | -96.9% | -98.4% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | INM | VRAX |
|---|---|---|
| 2022 | -93.8% | – |
| 2023 | -79.4% | -80.0% |
| 2024 | -43.0% | +54.1% |
| 2025 | -77.6% | -84.6% |
| 2026 | +34.9% | -66.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are INM and VRAX good diversifiers for each other?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between INM and VRAX?
As of 2026-08-27, the correlation of weekly returns between INM and VRAX is 0.62 over 3 years, 0.60 over 1 year and 0.54 over 5 years.
Is VRAX a good diversifier for INM?
To a limited degree. At 0.62 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.62 mean?
A reading of 0.62 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/inm-vs-vrax.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/inm-vs-vrax/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: INM correlations · VRAX correlations
