SNDX vs XENE: Correlation
Measured on weekly returns over the past three years, Syndax Pharmaceuticals, Inc. (SNDX) and Xenon Pharmaceuticals Inc. (XENE) carry a correlation of 0.57, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SNDX and XENE?
Over the past 3 years, SNDX and XENE moved with a correlation of 0.57, which is moderate. Lately the two have drifted apart, with the 1-year correlation at 0.46 versus 0.57 over 3 years. Over 5 years the correlation is 0.27, and the annualized covariance of weekly returns is 1458.0 %².
XENE is one of the assets that tracks SNDX most closely: it ranks #3 out of the 18 assets we track against SNDX. Correlation aside, the last 12 months split them widely, with XENE ahead by 35.3 points (+24.0% versus +59.3%).
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.
SNDX vs XENE: side by side
| SNDX (Syndax Pharmaceuticals, Inc.) | XENE (Xenon Pharmaceuticals Inc.) | |
|---|---|---|
| 1-year return | +24.0% | +59.3% |
| 5-year return | +16.9% | +266.2% |
| Volatility (ann.) | 57.8% | 44.0% |
| Beta vs S&P 500 | 1.25 | 0.83 |
| Max drawdown (3Y) | -64.8% | -43.6% |
| Market cap | $1.8B | $6.0B |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SNDX | XENE |
|---|---|---|
| 2022 | +16.3% | +26.2% |
| 2023 | -15.1% | +16.8% |
| 2024 | -38.8% | -14.9% |
| 2025 | +58.9% | +14.3% |
| 2026 | -4.0% | +38.2% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SNDX and XENE good diversifiers for each other?
Only partially. A correlation of 0.57 means SNDX and XENE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
FAQ
What is the correlation between SNDX and XENE?
The SNDX/XENE correlation stands at 0.57 on a 3-year window (1 year: 0.46, 5 years: 0.27), computed from weekly returns as of 2026-08-27.
Is XENE a good diversifier for SNDX?
Only partially. A correlation of 0.57 means SNDX and XENE share most of their swings. Pairing them dampens volatility somewhat, but it will not protect against a common drawdown.
What does a correlation of 0.57 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
$ curl https://www.pairbook.io/api/v1/pairs/sndx-vs-xene.json
Drop this badge in a README or notebook; it updates with the data:
[](https://www.pairbook.io/pair/sndx-vs-xene/)
No key needed, free to use. Full endpoint list in the API documentation.
Related comparisons
Hubs: SNDX correlations · XENE correlations
