PHIO vs VAL: Correlation
Measured on weekly returns over the past three years, Phio Pharmaceuticals Corp. (PHIO) and Valaris Limited (VAL) carry a correlation of 0.39, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PHIO and VAL?
Over the past 3 years, PHIO and VAL moved with a correlation of 0.39, which is moderate. The link has tightened recently: the 1-year correlation (0.68) runs above the 3-year figure (0.39). Over 5 years the correlation is 0.21, and the annualized covariance of weekly returns is 2358.9 %².
Few assets follow PHIO as closely as VAL, which ranks #1 of 12 tracked partners. The last year tells two different stories: VAL led by 118.1 percentage points, -44.8% for PHIO against +73.3% for VAL. Risk is not evenly split, since PHIO carries 2.2 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.
PHIO vs VAL: side by side
| PHIO (Phio Pharmaceuticals Corp.) | VAL (Valaris Limited) | |
|---|---|---|
| 1-year return | -44.8% | +73.3% |
| 5-year return | -99.5% | +200.2% |
| Volatility (ann.) | 113.9% | 52.9% |
| Beta vs S&P 500 | 1.91 | 0.77 |
| Max drawdown (3Y) | -96.3% | -63.8% |
| Market cap | – | $5.9B |
| P/E (trailing) | – | 6.3 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PHIO | VAL |
|---|---|---|
| 2022 | -62.8% | +87.8% |
| 2023 | -83.0% | +1.4% |
| 2024 | -73.7% | -35.5% |
| 2025 | -41.7% | +13.9% |
| 2026 | +6.7% | +69.5% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PHIO and VAL good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PHIO and VAL?
As of 2026-08-27, the correlation of weekly returns between PHIO and VAL is 0.39 over 3 years, 0.68 over 1 year and 0.21 over 5 years.
Is VAL a good diversifier for PHIO?
Yes, to a useful degree: a correlation of 0.39 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.39 mean?
A reading of 0.39 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
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Related comparisons
Hubs: PHIO correlations · VAL correlations
