OMER vs PRAX: Correlation
How closely do Omeros Corporation (OMER) and Praxis Precision Medicines, Inc. (PRAX) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OMER and PRAX?
On 3 years of weekly data the OMER/PRAX correlation comes out at 0.50, moderate. The link has tightened recently: the 1-year correlation (0.69) runs above the 3-year figure (0.50). The 5-year figure is 0.36, and annualized covariance runs at 10185.8 %².
In OMER's tracked universe of 13 assets, PRAX sits right near the top at #1. Their recent paths diverged sharply: over the last 12 months PRAX outperformed by 331.1 percentage points (+352.9% for OMER against +684.0% for PRAX).
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.
OMER vs PRAX: side by side
| OMER (Omeros Corporation) | PRAX (Praxis Precision Medicines, Inc.) | |
|---|---|---|
| 1-year return | +352.9% | +684.0% |
| 5-year return | +22.7% | +28.6% |
| Volatility (ann.) | 119.0% | 170.9% |
| Beta vs S&P 500 | 1.80 | 2.13 |
| Max drawdown (3Y) | -75.6% | -68.6% |
| Market cap | $1.4B | $10.3B |
| P/E (trailing) | 11.1 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OMER | PRAX |
|---|---|---|
| 2022 | -64.9% | -87.9% |
| 2023 | +44.7% | -37.6% |
| 2024 | +202.1% | +245.4% |
| 2025 | +73.9% | +283.0% |
| 2026 | +12.0% | +24.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OMER and PRAX good diversifiers for each other?
Only partially. A correlation of 0.50 means OMER and PRAX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between OMER and PRAX?
As of 2026-08-27, the correlation of weekly returns between OMER and PRAX is 0.50 over 3 years, 0.69 over 1 year and 0.36 over 5 years.
Is PRAX a good diversifier for OMER?
Only partially. A correlation of 0.50 means OMER and PRAX share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.50 mean?
A reading of 0.50 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/omer-vs-prax.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/omer-vs-prax/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: OMER correlations · PRAX correlations
