PRAX vs SHMD: Correlation
Praxis Precision Medicines, Inc. (PRAX) and SCHMID Group N.V. - Class A (SHMD) show a moderate relationship: their 3-year correlation of weekly returns is 0.47.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRAX and SHMD?
Over the past 3 years, PRAX and SHMD moved with a correlation of 0.47, which is moderate. Little has changed lately, as the 1-year reading of 0.57 lands near the 3-year figure. Over 5 years the correlation is n/a, and the annualized covariance of weekly returns is 8377.1 %².
Within PRAX's tracked universe of 15 assets, SHMD comes in at #6 by 3-year correlation. Correlation aside, the last 12 months split them widely, with PRAX ahead by 655.2 points (+684.0% versus +28.8%). Note the risk asymmetry: PRAX runs 1.8 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.
PRAX vs SHMD: side by side
| PRAX (Praxis Precision Medicines, Inc.) | SHMD (SCHMID Group N.V. - Class A) | |
|---|---|---|
| 1-year return | +684.0% | +28.8% |
| 5-year return | +28.6% | n/a |
| Volatility (ann.) | 170.9% | 96.9% |
| Beta vs S&P 500 | 2.13 | 0.77 |
| Max drawdown (3Y) | -68.6% | -69.6% |
| Market cap | $10.3B | $0.2B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRAX | SHMD |
|---|---|---|
| 2022 | -87.9% | – |
| 2023 | -37.6% | – |
| 2024 | +245.4% | – |
| 2025 | +283.0% | +101.1% |
| 2026 | +24.8% | -45.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRAX and SHMD good diversifiers for each other?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between PRAX and SHMD?
Using weekly returns as of 2026-08-27: 0.47 over 3 years, with 0.57 over the last year and n/a over 5 years.
Is SHMD a good diversifier for PRAX?
A fair diversifier. At 0.47, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.47 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
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Related comparisons
Hubs: PRAX correlations · SHMD correlations
