PMVP vs TARS: Correlation
How closely do PMV Pharmaceuticals, Inc. (PMVP) and Tarsus Pharmaceuticals, Inc. (TARS) trade together? Their weekly returns over three years give a correlation of 0.38, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PMVP and TARS?
On 3 years of weekly data the PMVP/TARS correlation comes out at 0.38, moderate. Little has changed lately, as the 1-year reading of 0.30 lands near the 3-year figure. The 5-year figure is 0.29, and annualized covariance runs at 1736.4 %².
Among the 14 assets we track against PMVP, TARS ranks #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with TARS ahead by 37.1 points (-12.7% versus +24.4%). Note the risk asymmetry: PMVP runs 1.6 times the annualized volatility of the other leg, so equal-weighting the two is not an equal-risk position.
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.
PMVP vs TARS: side by side
| PMVP (PMV Pharmaceuticals, Inc.) | TARS (Tarsus Pharmaceuticals, Inc.) | |
|---|---|---|
| 1-year return | -12.7% | +24.4% |
| 5-year return | -95.9% | +171.4% |
| Volatility (ann.) | 86.3% | 53.2% |
| Beta vs S&P 500 | 1.29 | 0.51 |
| Max drawdown (3Y) | -88.8% | -45.1% |
| Market cap | $0.1B | $3.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PMVP | TARS |
|---|---|---|
| 2022 | -62.3% | -34.8% |
| 2023 | -64.4% | +38.1% |
| 2024 | -51.3% | +173.4% |
| 2025 | -17.2% | +47.9% |
| 2026 | -0.8% | -12.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PMVP and TARS good diversifiers for each other?
Reasonably. At 0.38, PMVP and TARS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PMVP and TARS?
Using weekly returns as of 2026-08-27: 0.38 over 3 years, with 0.30 over the last year and 0.29 over 5 years.
Is TARS a good diversifier for PMVP?
Reasonably. At 0.38, PMVP and TARS keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.38 mean?
Correlation ranges from −1 to +1. Values near +1 mean two assets move together, near 0 that they move independently, and negative values that they tend to move in opposite directions. It measures co-movement, not performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/pmvp-vs-tars.json
Markdown for the live badge, attribution link included:
[](https://www.pairbook.io/pair/pmvp-vs-tars/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: PMVP correlations · TARS correlations
