PHAT vs PRME: Correlation
Phathom Pharmaceuticals, Inc. (PHAT) and Prime Medicine, Inc. (PRME) show a moderate relationship: their 3-year correlation of weekly returns is 0.36.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHAT and PRME?
On 3 years of weekly data the PHAT/PRME correlation comes out at 0.36, moderate. Lately the two have drifted apart, with the 1-year correlation at 0.06 versus 0.36 over 3 years. The 5-year figure is 0.34, and annualized covariance runs at 3696.2 %².
Within PHAT's tracked universe of 12 assets, PRME comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PRME ahead by 34.2 points (-28.1% versus +6.1%).
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.
PHAT vs PRME: side by side
| PHAT (Phathom Pharmaceuticals, Inc.) | PRME (Prime Medicine, Inc.) | |
|---|---|---|
| 1-year return | -28.1% | +6.1% |
| 5-year return | -74.1% | n/a |
| Volatility (ann.) | 103.2% | 98.7% |
| Beta vs S&P 500 | 1.89 | 2.97 |
| Max drawdown (3Y) | -88.3% | -91.4% |
| Market cap | $0.7B | $0.7B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PHAT | PRME |
|---|---|---|
| 2022 | -43.0% | – |
| 2023 | -18.6% | -52.3% |
| 2024 | -11.1% | -67.0% |
| 2025 | +104.3% | +18.8% |
| 2026 | -46.1% | +4.9% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHAT and PRME good diversifiers for each other?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PHAT and PRME?
The PHAT/PRME correlation stands at 0.36 on a 3-year window (1 year: 0.06, 5 years: 0.34), computed from weekly returns as of 2026-08-27.
Is PRME a good diversifier for PHAT?
A fair diversifier. At 0.36, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.36 mean?
On the −1 to +1 scale, 0.36 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/phat-vs-prme.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/phat-vs-prme/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PHAT correlations · PRME correlations
