NERV vs XENE: Correlation
Minerva Neurosciences, Inc (NERV) and Xenon Pharmaceuticals Inc. (XENE) show a moderate relationship: their 3-year correlation of weekly returns is 0.37.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NERV and XENE?
Across a 3-year window, the weekly returns of NERV and XENE correlate at 0.37, moderate. The past 12 months show a weaker link (0.17) than the 3-year average (0.37). Stretching to 5 years gives 0.09, with an annualized covariance of 1627.6 %².
Within NERV's tracked universe of 12 assets, XENE comes in at #5 by 3-year correlation. The last year tells two different stories: NERV led by 57.2 percentage points, +116.5% for NERV against +59.3% for XENE. Note the risk asymmetry: NERV runs 2.3 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.
NERV vs XENE: side by side
| NERV (Minerva Neurosciences, Inc) | XENE (Xenon Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | +116.5% | +59.3% |
| 5-year return | -63.8% | +266.2% |
| Volatility (ann.) | 99.2% | 44.0% |
| Beta vs S&P 500 | 1.61 | 0.83 |
| Max drawdown (3Y) | -89.3% | -43.6% |
| Market cap | $0.2B | $6.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NERV | XENE |
|---|---|---|
| 2022 | -75.2% | +26.2% |
| 2023 | +286.8% | +16.8% |
| 2024 | -63.9% | -14.9% |
| 2025 | +80.9% | +14.3% |
| 2026 | +27.6% | +38.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NERV and XENE good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between NERV and XENE?
Using weekly returns as of 2026-08-27: 0.37 over 3 years, with 0.17 over the last year and 0.09 over 5 years.
Is XENE a good diversifier for NERV?
Yes, to a useful degree: a correlation of 0.37 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.37 mean?
On the −1 to +1 scale, 0.37 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/nerv-vs-xene.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/nerv-vs-xene/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NERV correlations · XENE correlations
