LXRX vs RAY: Correlation
How closely do Lexicon Pharmaceuticals, Inc. (LXRX) and Raytech Holding Limited (RAY) trade together? Their weekly returns over three years give a correlation of 0.31, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LXRX and RAY?
Across a 3-year window, the weekly returns of LXRX and RAY correlate at 0.31, moderate. Lately the two have moved closer together, with the 1-year correlation at 0.45 versus 0.31 over 3 years. Stretching to 5 years gives n/a, with an annualized covariance of 4735.5 %².
By 3-year correlation, RAY places #6 of the 11 assets tracked against LXRX. Their recent paths diverged sharply: over the last 12 months LXRX outperformed by 189.3 percentage points (+105.3% for LXRX against -84.0% for RAY).
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.
LXRX vs RAY: side by side
| LXRX (Lexicon Pharmaceuticals, Inc.) | RAY (Raytech Holding Limited) | |
|---|---|---|
| 1-year return | +105.3% | -84.0% |
| 5-year return | -48.7% | n/a |
| Volatility (ann.) | 105.2% | 146.1% |
| Beta vs S&P 500 | 1.98 | 0.37 |
| Max drawdown (3Y) | -91.9% | -97.7% |
| Market cap | $1.0B | – |
| P/E (trailing) | – | 3.0 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | LXRX | RAY |
|---|---|---|
| 2022 | -51.5% | – |
| 2023 | -19.9% | – |
| 2024 | -51.6% | – |
| 2025 | +55.4% | -90.5% |
| 2026 | +101.7% | +36.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LXRX and RAY good diversifiers for each other?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LXRX and RAY?
The LXRX/RAY correlation stands at 0.31 on a 3-year window (1 year: 0.45, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is RAY a good diversifier for LXRX?
A fair diversifier. At 0.31, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.31 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/lxrx-vs-ray.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/lxrx-vs-ray/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: LXRX correlations · RAY correlations
