PEPG vs TH: Correlation
PepGen Inc. (PEPG) and Target Hospitality Corp. (TH) show a negative relationship: their 3-year correlation of weekly returns is -0.25.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PEPG and TH?
Across a 3-year window, the weekly returns of PEPG and TH correlate at -0.25, negative, meaning they tend to move in opposite directions. Lately the two have moved closer together, with the 1-year correlation at -0.14 versus -0.25 over 3 years. Stretching to 5 years gives -0.16, with an annualized covariance of -2636.1 %².
Among the 14 assets we track against PEPG, TH sits near the bottom by co-movement, at rank #13. Correlation aside, the last 12 months split them widely, with PEPG ahead by 34.1 points (+147.6% versus +113.5%). One caveat on sizing: PEPG is 2.7 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.
PEPG vs TH: side by side
| PEPG (PepGen Inc.) | TH (Target Hospitality Corp.) | |
|---|---|---|
| 1-year return | +147.6% | +113.5% |
| 5-year return | -76.2% | +383.7% |
| Volatility (ann.) | 168.3% | 63.3% |
| Beta vs S&P 500 | 1.20 | 0.47 |
| Max drawdown (3Y) | -94.6% | -69.1% |
| Market cap | $0.2B | $1.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PEPG | TH |
|---|---|---|
| 2022 | – | +325.3% |
| 2023 | -49.1% | -35.7% |
| 2024 | -44.3% | -0.7% |
| 2025 | +71.8% | -17.1% |
| 2026 | -52.8% | +136.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PEPG and TH good diversifiers for each other?
Yes. With a correlation of -0.25, PEPG and TH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between PEPG and TH?
As of 2026-08-27, the correlation of weekly returns between PEPG and TH is -0.25 over 3 years, -0.14 over 1 year and -0.16 over 5 years.
Is TH a good diversifier for PEPG?
Yes. With a correlation of -0.25, PEPG and TH have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.25 mean?
A reading of -0.25 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pepg-vs-th.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pepg-vs-th/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PEPG correlations · TH correlations
