OLMA vs PACS: Correlation
How closely do Olema Pharmaceuticals, Inc. (OLMA) and PACS Group, Inc. (PACS) trade together? Their weekly returns over three years give a correlation of 0.75, which is strong.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLMA and PACS?
Over the past 3 years, OLMA and PACS moved with a correlation of 0.75, which is strong. Lately the two have moved closer together, with the 1-year correlation at 0.88 versus 0.75 over 3 years. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 12899.3 %².
PACS is one of the assets that tracks OLMA most closely: it ranks #1 out of the 16 assets we track against OLMA. Correlation aside, the last 12 months split them widely, with PACS ahead by 185.0 points (+88.0% versus +273.0%).
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.
OLMA vs PACS: side by side
| OLMA (Olema Pharmaceuticals, Inc.) | PACS (PACS Group, Inc.) | |
|---|---|---|
| 1-year return | +88.0% | +273.0% |
| 5-year return | -64.1% | n/a |
| Volatility (ann.) | 133.2% | 120.5% |
| Beta vs S&P 500 | 1.18 | 0.06 |
| Max drawdown (3Y) | -82.1% | -82.0% |
| Market cap | $0.9B | $7.0B |
| P/E (trailing) | – | 25.9 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLMA | PACS |
|---|---|---|
| 2022 | -73.8% | – |
| 2023 | +472.7% | – |
| 2024 | -58.4% | – |
| 2025 | +328.8% | +192.8% |
| 2026 | -56.8% | +15.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLMA and PACS good diversifiers for each other?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
FAQ
What is the correlation between OLMA and PACS?
As of 2026-08-27, the correlation of weekly returns between OLMA and PACS is 0.75 over 3 years, 0.88 over 1 year and n/a over 5 years.
Is PACS a good diversifier for OLMA?
Somewhat, no more. With 0.75 correlation, most large moves hit both names, and the diversification benefit stays modest.
What does a correlation of 0.75 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.
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Related comparisons
Hubs: OLMA correlations · PACS correlations
