PMVP vs TPST: Correlation
PMV Pharmaceuticals, Inc. (PMVP) and Tempest Therapeutics, Inc. (TPST) show a negative relationship: their 3-year correlation of weekly returns is -0.45.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PMVP and TPST?
Across a 3-year window, the weekly returns of PMVP and TPST correlate at -0.45, negative, meaning they tend to move in opposite directions. The link has tightened recently: the 1-year correlation (0.12) runs above the 3-year figure (-0.45). Stretching to 5 years gives -0.37, with an annualized covariance of -30314.3 %².
Among the 14 assets we track against PMVP, TPST sits near the bottom by co-movement, at rank #14. The last year tells two different stories: PMVP led by 77.3 percentage points, -12.7% for PMVP against -90.0% for TPST. Note the risk asymmetry: TPST runs 9.1 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 TPST: side by side
| PMVP (PMV Pharmaceuticals, Inc.) | TPST (Tempest Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -12.7% | -90.0% |
| 5-year return | -95.9% | -99.4% |
| Volatility (ann.) | 86.3% | 782.8% |
| Beta vs S&P 500 | 1.29 | 1.97 |
| Max drawdown (3Y) | -88.8% | -99.3% |
| Market cap | $0.1B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PMVP | TPST |
|---|---|---|
| 2022 | -62.3% | -78.2% |
| 2023 | -64.4% | +282.6% |
| 2024 | -51.3% | -81.0% |
| 2025 | -17.2% | -73.6% |
| 2026 | -0.8% | -62.4% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PMVP and TPST good diversifiers for each other?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
FAQ
What is the correlation between PMVP and TPST?
Using weekly returns as of 2026-08-27: -0.45 over 3 years, with 0.12 over the last year and -0.37 over 5 years.
Is TPST a good diversifier for PMVP?
By historical standards, yes. A correlation of -0.45 means the two rarely move for the same reasons.
What does a correlation of -0.45 mean?
On the −1 to +1 scale, -0.45 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/pmvp-vs-tpst.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/pmvp-vs-tpst/)
Free with attribution; caching and terms are described in the API documentation.
Related comparisons
Hubs: PMVP correlations · TPST correlations
