IRD vs PAVM: Correlation
Opus Genetics, Inc. (IRD) and PAVmed Inc. (PAVM) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRD and PAVM?
Across a 3-year window, the weekly returns of IRD and PAVM correlate at 0.37, moderate. The link has tightened recently: the 1-year correlation (0.49) runs above the 3-year figure (0.37). Stretching to 5 years gives 0.28, with an annualized covariance of 2717.5 %².
Within IRD's tracked universe of 10 assets, PAVM comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with IRD ahead by 285.7 points (+220.8% versus -64.9%).
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.
IRD vs PAVM: side by side
| IRD (Opus Genetics, Inc.) | PAVM (PAVmed Inc.) | |
|---|---|---|
| 1-year return | +220.8% | -64.9% |
| 5-year return | -11.9% | -99.8% |
| Volatility (ann.) | 71.4% | 102.0% |
| Beta vs S&P 500 | 0.63 | 1.05 |
| Max drawdown (3Y) | -82.6% | -98.1% |
| Market cap | $0.3B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRD | PAVM |
|---|---|---|
| 2022 | -5.4% | -80.5% |
| 2023 | -14.7% | -42.8% |
| 2024 | -60.5% | -84.8% |
| 2025 | +68.9% | -64.8% |
| 2026 | +91.5% | -23.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRD and PAVM good diversifiers for each other?
Reasonably. At 0.37, IRD and PAVM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IRD and PAVM?
As of 2026-08-27, the correlation of weekly returns between IRD and PAVM is 0.37 over 3 years, 0.49 over 1 year and 0.28 over 5 years.
Is PAVM a good diversifier for IRD?
Reasonably. At 0.37, IRD and PAVM keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/ird-vs-pavm.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/ird-vs-pavm/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IRD correlations · PAVM correlations
