OVID vs WBTN: Correlation
How closely do Ovid Therapeutics Inc. (OVID) and WEBTOON Entertainment Inc. (WBTN) trade together? Their weekly returns over three years give a correlation of 0.43, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are OVID and WBTN?
Across a 3-year window, the weekly returns of OVID and WBTN correlate at 0.43, moderate. The link has loosened recently: the 1-year correlation (-0.00) runs below the 3-year figure (0.43). Stretching to 5 years gives n/a, with an annualized covariance of 3664.9 %².
Among the 14 assets we track against OVID, WBTN ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with OVID ahead by 166.9 points (+132.5% versus -34.4%).
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.
OVID vs WBTN: side by side
| OVID (Ovid Therapeutics Inc.) | WBTN (WEBTOON Entertainment Inc.) | |
|---|---|---|
| 1-year return | +132.5% | -34.4% |
| 5-year return | -16.5% | n/a |
| Volatility (ann.) | 103.3% | 80.5% |
| Beta vs S&P 500 | 2.01 | 1.69 |
| Max drawdown (3Y) | -93.7% | -70.6% |
| Market cap | $0.6B | $1.4B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | OVID | WBTN |
|---|---|---|
| 2022 | -42.1% | – |
| 2023 | +73.1% | – |
| 2024 | -71.0% | – |
| 2025 | +74.5% | -4.1% |
| 2026 | +79.8% | -23.6% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are OVID and WBTN good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between OVID and WBTN?
As of 2026-08-27, the correlation of weekly returns between OVID and WBTN is 0.43 over 3 years, -0.00 over 1 year and n/a over 5 years.
Is WBTN a good diversifier for OVID?
Yes, to a useful degree: a correlation of 0.43 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.43 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/ovid-vs-wbtn.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/ovid-vs-wbtn/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: OVID correlations · WBTN correlations
