PASG vs SMTK: Correlation
How closely do Passage Bio, Inc. (PASG) and SmartKem, Inc. (SMTK) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PASG and SMTK?
Over the past 3 years, PASG and SMTK moved with a correlation of 0.38, which is moderate. The past 12 months show a weaker link (0.14) than the 3-year average (0.38). Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 8420.2 %².
Within PASG's tracked universe of 14 assets, SMTK comes in at #7 by 3-year correlation. The last year tells two different stories: PASG led by 50.6 percentage points, -38.5% for PASG against -89.1% for SMTK.
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.
PASG vs SMTK: side by side
| PASG (Passage Bio, Inc.) | SMTK (SmartKem, Inc.) | |
|---|---|---|
| 1-year return | -38.5% | -89.1% |
| 5-year return | -98.1% | n/a |
| Volatility (ann.) | 128.4% | 155.8% |
| Beta vs S&P 500 | 2.11 | -0.16 |
| Max drawdown (3Y) | -88.2% | -99.2% |
| Market cap | – | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PASG | SMTK |
|---|---|---|
| 2022 | -78.3% | – |
| 2023 | -26.8% | – |
| 2024 | -43.9% | – |
| 2025 | +4.1% | -63.3% |
| 2026 | -63.3% | -93.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PASG and SMTK good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PASG and SMTK?
As of 2026-08-27, the correlation of weekly returns between PASG and SMTK is 0.38 over 3 years, 0.14 over 1 year and n/a over 5 years.
Is SMTK a good diversifier for PASG?
Yes, to a useful degree: a correlation of 0.38 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.38 mean?
A reading of 0.38 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PASG correlations · SMTK correlations
