PHAT vs USBC: Correlation
How closely do Phathom Pharmaceuticals, Inc. (PHAT) and USBC, Inc. (USBC) trade together? Their weekly returns over three years give a correlation of 0.50, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHAT and USBC?
Over the past 3 years, PHAT and USBC moved with a correlation of 0.50, which is moderate. The link has loosened recently: the 1-year correlation (0.11) runs below the 3-year figure (0.50). Over 5 years the correlation is 0.41, and the annualized covariance of weekly returns is 10044.4 %².
USBC is one of the assets that tracks PHAT most closely: it ranks #1 out of the 12 assets we track against PHAT. Their recent paths diverged sharply: over the last 12 months PHAT outperformed by 29.6 percentage points (-28.1% for PHAT against -57.7% for USBC). Risk is not evenly split, since USBC carries 1.9 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.
PHAT vs USBC: side by side
| PHAT (Phathom Pharmaceuticals, Inc.) | USBC (USBC, Inc.) | |
|---|---|---|
| 1-year return | -28.1% | -57.7% |
| 5-year return | -74.1% | -99.5% |
| Volatility (ann.) | 103.2% | 193.2% |
| Beta vs S&P 500 | 1.89 | 2.72 |
| Max drawdown (3Y) | -88.3% | -99.2% |
| Market cap | $0.7B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PHAT | USBC |
|---|---|---|
| 2022 | -43.0% | -5.9% |
| 2023 | -18.6% | -68.1% |
| 2024 | -11.1% | -66.7% |
| 2025 | +104.3% | -90.7% |
| 2026 | -46.1% | -29.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHAT and USBC good diversifiers for each other?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
FAQ
What is the correlation between PHAT and USBC?
Using weekly returns as of 2026-08-27: 0.50 over 3 years, with 0.11 over the last year and 0.41 over 5 years.
Is USBC a good diversifier for PHAT?
To a limited degree. At 0.50 the two still catch most of the same waves, so the pair smooths returns a little without insulating either from a shared selloff.
What does a correlation of 0.50 mean?
A reading of 0.50 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: PHAT correlations · USBC correlations
