NGEN vs OLMA: Correlation
How closely do NervGen Pharma Corp. (NGEN) and Olema Pharmaceuticals, Inc. (OLMA) trade together? Their weekly returns over three years give a correlation of 0.27, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are NGEN and OLMA?
On 3 years of weekly data the NGEN/OLMA correlation comes out at 0.27, weak. Little has changed lately, as the 1-year reading of 0.29 lands near the 3-year figure. The 5-year figure is 0.24, and annualized covariance runs at 3034.6 %².
Few assets follow NGEN as closely as OLMA, which ranks #3 of 16 tracked partners. Correlation aside, the last 12 months split them widely, with OLMA ahead by 91.1 points (-3.1% versus +88.0%). Risk is not evenly split, since OLMA carries 1.6 times the volatility of the other side.
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.
NGEN vs OLMA: side by side
| NGEN (NervGen Pharma Corp.) | OLMA (Olema Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -3.1% | +88.0% |
| 5-year return | +44.1% | -64.1% |
| Volatility (ann.) | 84.7% | 133.2% |
| Beta vs S&P 500 | 0.57 | 1.18 |
| Max drawdown (3Y) | -73.4% | -82.1% |
| Market cap | $0.3B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | NGEN | OLMA |
|---|---|---|
| 2022 | -44.1% | -73.8% |
| 2023 | +71.4% | +472.7% |
| 2024 | +6.9% | -58.4% |
| 2025 | +156.9% | +328.8% |
| 2026 | -58.3% | -56.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are NGEN and OLMA good diversifiers for each other?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between NGEN and OLMA?
The NGEN/OLMA correlation stands at 0.27 on a 3-year window (1 year: 0.29, 5 years: 0.24), computed from weekly returns as of 2026-08-27.
Is OLMA a good diversifier for NGEN?
A fair diversifier. At 0.27, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.27 mean?
A reading of 0.27 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
$ curl https://www.pairbook.io/api/v1/pairs/ngen-vs-olma.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ngen-vs-olma/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: NGEN correlations · OLMA correlations
