LONA vs VRA: Correlation
How closely do LeonaBio, Inc. (LONA) and Vera Bradley, Inc. (VRA) trade together? Their weekly returns over three years give a correlation of 0.36, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LONA and VRA?
On 3 years of weekly data the LONA/VRA correlation comes out at 0.36, moderate. Little has changed lately, as the 1-year reading of 0.41 lands near the 3-year figure. The 5-year figure is 0.28, and annualized covariance runs at 2340.6 %².
Within LONA's tracked universe of 11 assets, VRA comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with LONA ahead by 35.8 points (+97.2% versus +61.4%). Note the risk asymmetry: LONA runs 1.7 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.
LONA vs VRA: side by side
| LONA (LeonaBio, Inc.) | VRA (Vera Bradley, Inc.) | |
|---|---|---|
| 1-year return | +97.2% | +61.4% |
| 5-year return | -92.6% | -71.6% |
| Volatility (ann.) | 104.6% | 61.5% |
| Beta vs S&P 500 | 1.80 | 1.11 |
| Max drawdown (3Y) | -94.5% | -78.8% |
| Market cap | $0.1B | $0.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LONA | VRA |
|---|---|---|
| 2022 | -75.7% | -46.8% |
| 2023 | -23.3% | +70.0% |
| 2024 | -75.8% | -49.0% |
| 2025 | +29.0% | -38.4% |
| 2026 | +4.2% | +38.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LONA and VRA good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LONA and VRA?
Using weekly returns as of 2026-08-27: 0.36 over 3 years, with 0.41 over the last year and 0.28 over 5 years.
Is VRA a good diversifier for LONA?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/lona-vs-vra.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lona-vs-vra/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: LONA correlations · VRA correlations
