OLMA vs PTN: Correlation
Olema Pharmaceuticals, Inc. (OLMA) and Palatin Technologies, Inc. (PTN) show a moderate relationship: their 3-year correlation of weekly returns is 0.35.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLMA and PTN?
Over the past 3 years, OLMA and PTN moved with a correlation of 0.35, which is moderate. The link has tightened recently: the 1-year correlation (0.67) runs above the 3-year figure (0.35). Over 5 years the correlation is 0.31, and the annualized covariance of weekly returns is 6879.7 %².
Among the 16 assets we track against OLMA, PTN ranks #8 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months OLMA outperformed by 89.0 percentage points (+88.0% for OLMA against -1.0% for PTN).
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 PTN: side by side
| OLMA (Olema Pharmaceuticals, Inc.) | PTN (Palatin Technologies, Inc.) | |
|---|---|---|
| 1-year return | +88.0% | -1.0% |
| 5-year return | -64.1% | -98.3% |
| Volatility (ann.) | 133.2% | 145.6% |
| Beta vs S&P 500 | 1.18 | 0.13 |
| Max drawdown (3Y) | -82.1% | -98.5% |
| Market cap | $0.9B | – |
| P/E (trailing) | – | 95.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLMA | PTN |
|---|---|---|
| 2022 | -73.8% | -79.9% |
| 2023 | +472.7% | +55.5% |
| 2024 | -58.4% | -72.1% |
| 2025 | +328.8% | -72.3% |
| 2026 | -56.8% | -31.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLMA and PTN good diversifiers for each other?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OLMA and PTN?
As of 2026-08-27, the correlation of weekly returns between OLMA and PTN is 0.35 over 3 years, 0.67 over 1 year and 0.31 over 5 years.
Is PTN a good diversifier for OLMA?
A fair diversifier. At 0.35, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.35 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.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/olma-vs-ptn.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/olma-vs-ptn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OLMA correlations · PTN correlations
