OCUL vs SCLX: Correlation
How closely do Ocular Therapeutix, Inc. (OCUL) and Scilex Holding Company (SCLX) trade together? Their weekly returns over three years give a correlation of 0.32, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OCUL and SCLX?
On 3 years of weekly data the OCUL/SCLX correlation comes out at 0.32, moderate. The relationship has been stable: the 1-year correlation (0.34) sits close to the 3-year figure. The 5-year figure is 0.20, and annualized covariance runs at 3132.6 %².
SCLX is close to the least connected end of OCUL's tracked universe, ranking #14 of 18. The last year tells two different stories: OCUL led by 38.2 percentage points, -12.2% for OCUL against -50.4% for SCLX. One caveat on sizing: SCLX is 1.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
OCUL vs SCLX: side by side
| OCUL (Ocular Therapeutix, Inc.) | SCLX (Scilex Holding Company) | |
|---|---|---|
| 1-year return | -12.2% | -50.4% |
| 5-year return | +0.7% | -97.4% |
| Volatility (ann.) | 77.8% | 125.7% |
| Beta vs S&P 500 | 1.80 | 1.06 |
| Max drawdown (3Y) | -61.6% | -96.4% |
| Market cap | $2.4B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OCUL | SCLX |
|---|---|---|
| 2022 | -59.7% | -60.3% |
| 2023 | +58.7% | -48.9% |
| 2024 | +91.5% | -79.1% |
| 2025 | +42.2% | -18.2% |
| 2026 | -10.9% | -26.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OCUL and SCLX good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OCUL and SCLX?
The OCUL/SCLX correlation stands at 0.32 on a 3-year window (1 year: 0.34, 5 years: 0.20), computed from weekly returns as of 2026-08-27.
Is SCLX a good diversifier for OCUL?
Yes, to a useful degree: a correlation of 0.32 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.32 mean?
A reading of 0.32 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/ocul-vs-sclx.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/ocul-vs-sclx/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OCUL correlations · SCLX correlations
