PCSA vs TARS: Correlation
Measured on weekly returns over the past three years, Processa Pharmaceuticals, Inc. (PCSA) and Tarsus Pharmaceuticals, Inc. (TARS) carry a correlation of -0.23, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PCSA and TARS?
Across a 3-year window, the weekly returns of PCSA and TARS correlate at -0.23, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at 0.09 versus -0.23 over 3 years. Stretching to 5 years gives -0.15, with an annualized covariance of -1890.5 %².
Among the 15 assets we track against PCSA, TARS sits near the bottom by co-movement, at rank #12. The last year tells two different stories: TARS led by 84.8 percentage points, -60.4% for PCSA against +24.4% for TARS. Risk is not evenly split, since PCSA carries 2.9 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.
PCSA vs TARS: side by side
| PCSA (Processa Pharmaceuticals, Inc.) | TARS (Tarsus Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -60.4% | +24.4% |
| 5-year return | -99.9% | +171.4% |
| Volatility (ann.) | 153.6% | 53.2% |
| Beta vs S&P 500 | 1.04 | 0.51 |
| Max drawdown (3Y) | -99.6% | -45.1% |
| Market cap | – | $3.2B |
| P/E (trailing) | 3.3 | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PCSA | TARS |
|---|---|---|
| 2022 | -77.6% | -34.8% |
| 2023 | -69.5% | +38.1% |
| 2024 | -86.8% | +173.4% |
| 2025 | -87.0% | +47.9% |
| 2026 | -26.7% | -12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PCSA and TARS good diversifiers for each other?
Yes. With a correlation of -0.23, PCSA and TARS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PCSA and TARS?
The PCSA/TARS correlation stands at -0.23 on a 3-year window (1 year: 0.09, 5 years: -0.15), computed from weekly returns as of 2026-08-27.
Is TARS a good diversifier for PCSA?
Yes. With a correlation of -0.23, PCSA and TARS have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
On the −1 to +1 scale, -0.23 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.
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[](https://www.pairbook.io/pair/pcsa-vs-tars/)
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Related comparisons
Hubs: PCSA correlations · TARS correlations
