PBM vs REPL: Correlation
Psyence Biomedical Ltd. (PBM) and Replimune Group, Inc. (REPL) show a negative relationship: their 3-year correlation of weekly returns is -0.30.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBM and REPL?
On 3 years of weekly data the PBM/REPL correlation comes out at -0.30, negative, meaning they tend to move in opposite directions. Recent behaviour matches the longer record: -0.36 over 1 year against -0.30 over 3. The 5-year figure is -0.29, and annualized covariance runs at -11566.0 %².
REPL is close to the least connected end of PBM's tracked universe, ranking #12 of 12. The last year tells two different stories: REPL led by 278.6 percentage points, -96.5% for PBM against +182.1% for REPL. One caveat on sizing: PBM is 1.7 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PBM vs REPL: side by side
| PBM (Psyence Biomedical Ltd.) | REPL (Replimune Group, Inc.) | |
|---|---|---|
| 1-year return | -96.5% | +182.1% |
| 5-year return | -100.0% | -50.4% |
| Volatility (ann.) | 254.5% | 153.7% |
| Beta vs S&P 500 | 3.60 | 0.48 |
| Max drawdown (3Y) | -100.0% | -92.0% |
| Market cap | – | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PBM | REPL |
|---|---|---|
| 2022 | +3.7% | +0.4% |
| 2023 | -10.1% | -69.0% |
| 2024 | -99.7% | +43.7% |
| 2025 | -95.5% | -19.7% |
| 2026 | -85.3% | +60.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBM and REPL good diversifiers for each other?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
FAQ
What is the correlation between PBM and REPL?
As of 2026-08-27, the correlation of weekly returns between PBM and REPL is -0.30 over 3 years, -0.36 over 1 year and -0.29 over 5 years.
Is REPL a good diversifier for PBM?
Yes: at -0.30, the two have gone their own ways historically, which is what genuine diversification looks like.
What does a correlation of -0.30 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/pbm-vs-repl.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pbm-vs-repl/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: PBM correlations · REPL correlations
