RARE vs SOC: Correlation
Measured on weekly returns over the past three years, Ultragenyx Pharmaceutical Inc. (RARE) and Sable Offshore Corp. (SOC) carry a correlation of -0.26, a negative link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are RARE and SOC?
Over the past 3 years, RARE and SOC moved with a correlation of -0.26, which is negative, meaning they tend to move in opposite directions. The link has loosened recently: the 1-year correlation (-0.45) runs below the 3-year figure (-0.26). Over 5 years the correlation is -0.20, and the annualized covariance of weekly returns is -1342.0 %².
SOC is close to the least connected end of RARE's tracked universe, ranking #12 of 14. The last year tells two different stories: RARE led by 70.9 percentage points, -12.7% for RARE against -83.6% for SOC. One caveat on sizing: SOC is 2.0 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.
RARE vs SOC: side by side
| RARE (Ultragenyx Pharmaceutical Inc.) | SOC (Sable Offshore Corp.) | |
|---|---|---|
| 1-year return | -12.7% | -83.6% |
| 5-year return | -72.6% | -51.7% |
| Volatility (ann.) | 51.1% | 101.7% |
| Beta vs S&P 500 | 1.38 | 0.03 |
| Max drawdown (3Y) | -68.8% | -90.7% |
| Market cap | $2.6B | $0.9B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | RARE | SOC |
|---|---|---|
| 2022 | -44.9% | +3.4% |
| 2023 | +3.2% | +13.3% |
| 2024 | -12.0% | +101.1% |
| 2025 | -45.3% | -60.6% |
| 2026 | +14.2% | -48.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are RARE and SOC good diversifiers for each other?
Yes. With a correlation of -0.26, RARE and SOC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between RARE and SOC?
The RARE/SOC correlation stands at -0.26 on a 3-year window (1 year: -0.45, 5 years: -0.20), computed from weekly returns as of 2026-08-27.
Is SOC a good diversifier for RARE?
Yes. With a correlation of -0.26, RARE and SOC have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.26 mean?
On the −1 to +1 scale, -0.26 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/rare-vs-soc.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/rare-vs-soc/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: RARE correlations · SOC correlations
