LGND vs MYGN: Correlation
How closely do Ligand Pharmaceuticals Incorporated (LGND) and Myriad Genetics, Inc. (MYGN) trade together? Their weekly returns over three years give a correlation of 0.42, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LGND and MYGN?
On 3 years of weekly data the LGND/MYGN correlation comes out at 0.42, moderate. Little has changed lately, as the 1-year reading of 0.47 lands near the 3-year figure. The 5-year figure is 0.40, and annualized covariance runs at 1213.0 %².
Within LGND's tracked universe of 11 assets, MYGN comes in at #6 by 3-year correlation. The last year tells two different stories: LGND led by 125.2 percentage points, +78.8% for LGND against -46.4% for MYGN. One caveat on sizing: MYGN is 2.3 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.
LGND vs MYGN: side by side
| LGND (Ligand Pharmaceuticals Incorporated) | MYGN (Myriad Genetics, Inc.) | |
|---|---|---|
| 1-year return | +78.8% | -46.4% |
| 5-year return | +276.5% | -91.1% |
| Volatility (ann.) | 35.4% | 80.5% |
| Beta vs S&P 500 | 1.02 | 1.49 |
| Max drawdown (3Y) | -25.6% | -90.0% |
| Market cap | $5.7B | $0.3B |
| P/E (trailing) | 29.7 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LGND | MYGN |
|---|---|---|
| 2022 | -30.7% | -47.4% |
| 2023 | +6.9% | +31.9% |
| 2024 | +50.0% | -28.4% |
| 2025 | +76.5% | -55.1% |
| 2026 | +50.5% | -48.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LGND and MYGN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between LGND and MYGN?
Using weekly returns as of 2026-08-27: 0.42 over 3 years, with 0.47 over the last year and 0.40 over 5 years.
Is MYGN a good diversifier for LGND?
Yes, to a useful degree: a correlation of 0.42 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.42 mean?
A reading of 0.42 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
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Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/lgnd-vs-mygn/)
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Related comparisons
Hubs: LGND correlations · MYGN correlations
