PRLD vs SDGR: Correlation
Measured on weekly returns over the past three years, Prelude Therapeutics Incorporated (PRLD) and Schrodinger, Inc. (SDGR) carry a correlation of 0.35, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRLD and SDGR?
Across a 3-year window, the weekly returns of PRLD and SDGR correlate at 0.35, moderate. The relationship has been stable: the 1-year correlation (0.29) sits close to the 3-year figure. Stretching to 5 years gives 0.32, with an annualized covariance of 2217.5 %².
Within PRLD's tracked universe of 10 assets, SDGR comes in at #5 by 3-year correlation. Their recent paths diverged sharply: over the last 12 months PRLD outperformed by 392.2 percentage points (+395.3% for PRLD against +3.1% for SDGR). One caveat on sizing: PRLD is 1.9 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
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.
PRLD vs SDGR: side by side
| PRLD (Prelude Therapeutics Incorporated) | SDGR (Schrodinger, Inc.) | |
|---|---|---|
| 1-year return | +395.3% | +3.1% |
| 5-year return | -82.8% | -65.2% |
| Volatility (ann.) | 109.9% | 57.7% |
| Beta vs S&P 500 | 1.35 | 1.91 |
| Max drawdown (3Y) | -90.4% | -70.2% |
| Market cap | $0.5B | $1.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRLD | SDGR |
|---|---|---|
| 2022 | -51.5% | -46.3% |
| 2023 | -29.3% | +91.5% |
| 2024 | -70.1% | -46.1% |
| 2025 | +127.5% | -7.3% |
| 2026 | +118.6% | +14.1% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRLD and SDGR good diversifiers for each other?
Reasonably. At 0.35, PRLD and SDGR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
FAQ
What is the correlation between PRLD and SDGR?
Using weekly returns as of 2026-08-27: 0.35 over 3 years, with 0.29 over the last year and 0.32 over 5 years.
Is SDGR a good diversifier for PRLD?
Reasonably. At 0.35, PRLD and SDGR keep a meaningful degree of independence, and combining them has historically reduced portfolio volatility.
What does a correlation of 0.35 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.
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Related comparisons
Hubs: PRLD correlations · SDGR correlations
