SPRY vs ZVRA: Correlation
Measured on weekly returns over the past three years, ARS Pharmaceuticals, Inc. (SPRY) and Zevra Therapeutics, Inc. (ZVRA) carry a correlation of 0.40, a moderate link.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are SPRY and ZVRA?
Across a 3-year window, the weekly returns of SPRY and ZVRA correlate at 0.40, moderate. Little has changed lately, as the 1-year reading of 0.38 lands near the 3-year figure. Stretching to 5 years gives 0.31, with an annualized covariance of 1671.3 %².
Within SPRY's tracked universe of 11 assets, ZVRA comes in at #5 by 3-year correlation. Correlation aside, the last 12 months split them widely, with ZVRA ahead by 81.7 points (-55.1% versus +26.6%).
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.
SPRY vs ZVRA: side by side
| SPRY (ARS Pharmaceuticals, Inc.) | ZVRA (Zevra Therapeutics, Inc.) | |
|---|---|---|
| 1-year return | -55.1% | +26.6% |
| 5-year return | -73.8% | +33.0% |
| Volatility (ann.) | 68.4% | 61.3% |
| Beta vs S&P 500 | 1.73 | 0.96 |
| Max drawdown (3Y) | -72.0% | -43.5% |
| Market cap | $0.6B | $0.7B |
| P/E (trailing) | – | 12.6 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | US Listed |
Year-by-year returns
| Year | SPRY | ZVRA |
|---|---|---|
| 2022 | +28.1% | -47.3% |
| 2023 | -35.8% | +42.7% |
| 2024 | +92.5% | +27.3% |
| 2025 | +10.4% | +7.4% |
| 2026 | -48.2% | +32.3% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are SPRY and ZVRA good diversifiers for each other?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
FAQ
What is the correlation between SPRY and ZVRA?
As of 2026-08-27, the correlation of weekly returns between SPRY and ZVRA is 0.40 over 3 years, 0.38 over 1 year and 0.31 over 5 years.
Is ZVRA a good diversifier for SPRY?
Yes, to a useful degree: a correlation of 0.40 leaves real independence between the two, which historically damped combined volatility.
What does a correlation of 0.40 mean?
A reading of 0.40 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
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Related comparisons
Hubs: SPRY correlations · ZVRA correlations
