IRMD vs SNDX: Correlation
How closely do iRadimed Corporation (IRMD) and Syndax Pharmaceuticals, Inc. (SNDX) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are IRMD and SNDX?
Across a 3-year window, the weekly returns of IRMD and SNDX correlate at 0.46, moderate. The past 12 months show a weaker link (0.19) than the 3-year average (0.46). Stretching to 5 years gives 0.23, with an annualized covariance of 821.9 %².
In IRMD's tracked universe of 13 assets, SNDX sits right near the top at #1. Their 12-month results are close: +19.4% for IRMD against +24.0% for SNDX. One caveat on sizing: SNDX is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
IRMD vs SNDX: side by side
| IRMD (iRadimed Corporation) | SNDX (Syndax Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +19.4% | +24.0% |
| 5-year return | +185.4% | +16.9% |
| Volatility (ann.) | 30.9% | 57.8% |
| Beta vs S&P 500 | 0.61 | 1.25 |
| Max drawdown (3Y) | -24.9% | -64.8% |
| Market cap | $1.1B | $1.8B |
| P/E (trailing) | 48.9 | – |
| Dividend yield | 0.88% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | IRMD | SNDX |
|---|---|---|
| 2022 | -37.5% | +16.3% |
| 2023 | +75.4% | -15.1% |
| 2024 | +17.0% | -38.8% |
| 2025 | +79.7% | +58.9% |
| 2026 | -10.0% | -4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are IRMD and SNDX good diversifiers for each other?
Reasonably. At 0.46, IRMD and SNDX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between IRMD and SNDX?
As of 2026-08-27, the correlation of weekly returns between IRMD and SNDX is 0.46 over 3 years, 0.19 over 1 year and 0.23 over 5 years.
Is SNDX a good diversifier for IRMD?
Reasonably. At 0.46, IRMD and SNDX keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.46 mean?
A reading of 0.46 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/irmd-vs-sndx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/irmd-vs-sndx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: IRMD correlations · SNDX correlations
