PRME vs PRTA: Correlation
How closely do Prime Medicine, Inc. (PRME) and Prothena Corporation plc (PRTA) trade together? Their weekly returns over three years give a correlation of 0.46, which is moderate.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are PRME and PRTA?
On 3 years of weekly data the PRME/PRTA correlation comes out at 0.46, moderate. The link has loosened recently: the 1-year correlation (0.30) runs below the 3-year figure (0.46). The 5-year figure is 0.41, and annualized covariance runs at 2645.9 %².
Within PRME's tracked universe of 18 assets, PRTA comes in at #7 by 3-year correlation. Neither side won the trailing year by much: +6.1% against +6.2%. Note the risk asymmetry: PRME runs 1.7 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.
PRME vs PRTA: side by side
| PRME (Prime Medicine, Inc.) | PRTA (Prothena Corporation plc) | |
|---|---|---|
| 1-year return | +6.1% | +6.2% |
| 5-year return | n/a | -86.9% |
| Volatility (ann.) | 98.7% | 57.9% |
| Beta vs S&P 500 | 2.97 | 0.93 |
| Max drawdown (3Y) | -91.4% | -91.9% |
| Market cap | $0.7B | $0.5B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | PRME | PRTA |
|---|---|---|
| 2022 | – | +22.0% |
| 2023 | -52.3% | -39.7% |
| 2024 | -67.0% | -61.9% |
| 2025 | +18.8% | -31.0% |
| 2026 | +4.9% | -4.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are PRME and PRTA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between PRME and PRTA?
As of 2026-08-27, the correlation of weekly returns between PRME and PRTA is 0.46 over 3 years, 0.30 over 1 year and 0.41 over 5 years.
Is PRTA a good diversifier for PRME?
Yes, to a useful degree: a correlation of 0.46 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.46 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: PRME correlations · PRTA correlations
