OLMA vs ZYME: Correlation
Measured on weekly returns over the past three years, Olema Pharmaceuticals, Inc. (OLMA) and Zymeworks Inc. (ZYME) carry a correlation of 0.46, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OLMA and ZYME?
On 3 years of weekly data the OLMA/ZYME correlation comes out at 0.46, moderate. The link has tightened recently: the 1-year correlation (0.58) runs above the 3-year figure (0.46). The 5-year figure is 0.36, and annualized covariance runs at 3003.4 %².
Within OLMA's tracked universe of 16 assets, ZYME comes in at #5 by 3-year correlation. Over the last 12 months ZYME came out ahead by 6.3 percentage points (+88.0% against +94.3%). Note the risk asymmetry: OLMA runs 2.7 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.
OLMA vs ZYME: side by side
| OLMA (Olema Pharmaceuticals, Inc.) | ZYME (Zymeworks Inc.) | |
|---|---|---|
| 1-year return | +88.0% | +94.3% |
| 5-year return | -64.1% | -10.9% |
| Volatility (ann.) | 133.2% | 49.4% |
| Beta vs S&P 500 | 1.18 | 1.02 |
| Max drawdown (3Y) | -82.1% | -45.7% |
| Market cap | $0.9B | $2.1B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OLMA | ZYME |
|---|---|---|
| 2022 | -73.8% | -52.0% |
| 2023 | +472.7% | +32.2% |
| 2024 | -58.4% | +40.9% |
| 2025 | +328.8% | +79.8% |
| 2026 | -56.8% | +10.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OLMA and ZYME good diversifiers for each other?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between OLMA and ZYME?
Using weekly returns as of 2026-08-27: 0.46 over 3 years, with 0.58 over the last year and 0.36 over 5 years.
Is ZYME a good diversifier for OLMA?
A fair diversifier. At 0.46, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.46 mean?
On the −1 to +1 scale, 0.46 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/olma-vs-zyme.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/olma-vs-zyme/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: OLMA correlations · ZYME correlations
