PBM vs SWBI: Correlation
How closely do Psyence Biomedical Ltd. (PBM) and Smith & Wesson Brands, Inc. (SWBI) trade together? Their weekly returns over three years give a correlation of 0.41, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PBM and SWBI?
On 3 years of weekly data the PBM/SWBI correlation comes out at 0.41, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.15 versus 0.41 over 3 years. The 5-year figure is 0.31, and annualized covariance runs at 4157.9 %².
Within PBM's tracked universe of 12 assets, SWBI comes in at #7 by 3-year correlation. The last year tells two different stories: SWBI led by 162.9 percentage points, -96.5% for PBM against +66.4% for SWBI. Risk is not evenly split, since PBM carries 6.4 times the volatility of the other side.
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 SWBI: side by side
| PBM (Psyence Biomedical Ltd.) | SWBI (Smith & Wesson Brands, Inc.) | |
|---|---|---|
| 1-year return | -96.5% | +66.4% |
| 5-year return | -100.0% | -34.9% |
| Volatility (ann.) | 254.5% | 39.8% |
| Beta vs S&P 500 | 3.60 | 0.30 |
| Max drawdown (3Y) | -100.0% | -54.2% |
| Market cap | – | $0.6B |
| P/E (trailing) | – | 32.7 |
| Dividend yield | 0.00% | 3.89% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PBM | SWBI |
|---|---|---|
| 2022 | +3.7% | -49.6% |
| 2023 | -10.1% | +62.2% |
| 2024 | -99.7% | -22.5% |
| 2025 | -95.5% | +3.1% |
| 2026 | -85.3% | +34.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PBM and SWBI good diversifiers for each other?
Reasonably. At 0.41, PBM and SWBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PBM and SWBI?
The PBM/SWBI correlation stands at 0.41 on a 3-year window (1 year: 0.15, 5 years: 0.31), computed from weekly returns as of 2026-08-27.
Is SWBI a good diversifier for PBM?
Reasonably. At 0.41, PBM and SWBI keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.41 mean?
On the −1 to +1 scale, 0.41 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/pbm-vs-swbi.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pbm-vs-swbi/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PBM correlations · SWBI correlations
