PM vs XFOR: Correlation
Measured on weekly returns over the past three years, Philip Morris International (PM) and X4 Pharmaceuticals, Inc. (XFOR) carry a correlation of -0.20, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PM and XFOR?
Over the past 3 years, PM and XFOR moved with a correlation of -0.20, which is negative, meaning they tend to move in opposite directions. Lately the two have drifted apart, with the 1-year correlation at -0.39 versus -0.20 over 3 years. Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -559.4 %².
Within PM's tracked universe of 47 assets, XFOR comes in at #29 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PM ahead by 20.2 points (+20.2% versus +0.0%). Risk is not evenly split, since XFOR carries 5.3 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.
PM vs XFOR: side by side
| PM (Philip Morris International) | XFOR (X4 Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | +20.2% | +0.0% |
| 5-year return | +133.5% | -97.2% |
| Volatility (ann.) | 23.1% | 121.6% |
| Beta vs S&P 500 | -0.01 | 1.66 |
| Max drawdown (3Y) | -20.6% | -96.8% |
| Market cap | $296.9B | $0.4B |
| P/E (trailing) | 26.7 | 2.9 |
| Dividend yield | 3.03% | 0.00% |
| Sector / category | Consumer Staples | US Listed |
Year-by-year returns
| Year | PM | XFOR |
|---|---|---|
| 2022 | +12.3% | -56.6% |
| 2023 | -1.9% | -15.5% |
| 2024 | +34.3% | -12.5% |
| 2025 | +38.0% | -81.8% |
| 2026 | +20.8% | +5.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PM and XFOR good diversifiers for each other?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
FAQ
What is the correlation between PM and XFOR?
Using weekly returns as of 2026-08-27: -0.20 over 3 years, with -0.39 over the last year and -0.20 over 5 years.
Is XFOR a good diversifier for PM?
By historical standards, yes. A correlation of -0.20 means the two rarely move for the same reasons.
What does a correlation of -0.20 mean?
A reading of -0.20 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/pm-vs-xfor.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/pm-vs-xfor/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PM correlations · XFOR correlations
