MDGL vs SNDX: Correlation
Madrigal Pharmaceuticals, Inc. (MDGL) and Syndax Pharmaceuticals, Inc. (SNDX) show a moderate relationship: their 3-year correlation of weekly returns is 0.39.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are MDGL and SNDX?
On 3 years of weekly data the MDGL/SNDX correlation comes out at 0.39, moderate. Recent behaviour matches the longer record: 0.40 over 1 year against 0.39 over 3. The 5-year figure is 0.14, and annualized covariance runs at 1374.2 %².
Among the 14 assets we track against MDGL, SNDX ranks #5 by 3-year correlation. Neither side won the trailing year by much: +27.9% against +24.0%.
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.
MDGL vs SNDX: side by side
| MDGL (Madrigal Pharmaceuticals, Inc.) | SNDX (Syndax Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +27.9% | +24.0% |
| 5-year return | +554.5% | +16.9% |
| Volatility (ann.) | 60.2% | 57.8% |
| Beta vs S&P 500 | 0.71 | 1.25 |
| Max drawdown (3Y) | -38.8% | -64.8% |
| Market cap | $12.6B | $1.8B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | MDGL | SNDX |
|---|---|---|
| 2022 | +242.5% | +16.3% |
| 2023 | -20.3% | -15.1% |
| 2024 | +33.4% | -38.8% |
| 2025 | +88.7% | +58.9% |
| 2026 | -6.6% | -4.0% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are MDGL and SNDX good diversifiers for each other?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between MDGL and SNDX?
Using weekly returns as of 2026-08-27: 0.39 over 3 years, with 0.40 over the last year and 0.14 over 5 years.
Is SNDX a good diversifier for MDGL?
A fair diversifier. At 0.39, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.39 mean?
On the −1 to +1 scale, 0.39 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/mdgl-vs-sndx.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/mdgl-vs-sndx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: MDGL correlations · SNDX correlations
